Retailers hail buzzing stores in the West End

The retail economy is bouncing back in London, senior businessmen said today.

Shops have overcome fears of a meltdown and are seeing trade getting better week by week, retailers said.

The fightback has been helped by a series of initiatives to woo customers - and by the weak pound making London a bargain shopping destination for Europeans.

John King, chief executive of House of Fraser, said: "After Lehman we were really expecting the worst. We thought it would be tougher than it actually has been.

"In the event, retail in general has been pretty resilient this year and it is getting better each week."

Dozens of West End stores stayed open into the middle of last night for London's Fashion Night Out, part of an internationally co-ordinated effort to lure back shoppers.

More than 125 stores along Regent Street, Oxford Street, Bond Street and the Carnaby Street area held parties and offered discounts.

At Liberty in Regent Street, customers were even given a midnight feast with food from restaurant Bob Bob Ricard.

At Jaeger in Regent Street, shoppers were treated to live music, cocktails and a catwalk show.

Belinda Earl, the group's chief executive, said: "There is such an international feel to this event and it's such a perfect way to encourage people into shops. There's a real buzz again."