London retailers enjoy strong trading on Boxing Day

Retailers in London enjoyed mega sales on Monday, as shoppers were eager to get the biggest discounts on this year's traditional Boxing Day. A 24-hour strike by subway drivers failed to hurt the enthusiasm of shoppers, as hundreds of thousands of them rushed to the city's shopping centers such as the Oxford Street, the Regent Street and the Bond Street. Some high street stores and shopping centers opened for business as early as GMT 0600 to lure in bargain hunters. Retailers in London's prestigious West End shopping district made a brisk start of the Boxing Day trading and were optimistic of making 50 million pounds (78.2 million U.S. dollars) in sales, said the New West End Company, which represents firms operating in the area. Traders in the area had made 15 million pounds (23.4 million dollars) worth of sales during the first three hours of trading, said the company. Retailers in Britain have felt the pinch of the weak economy this year. Widespread discounting on the high street failed to stop retail sales from falling by 0.4 percent in November from the month before. Excluding spending on fuel, retail sales fell by 0.7 percent in November, according to Britain's Office for National Statistics (ONS). Crowds of shoppers during the holiday may cheer up retailers a bit and provide a boost to their sales in the end of the year.