LONDON -- A young man was stabbed to death on one of London's busiest shopping streets as thousands took part in post-Christmas sales on Monday.

The victim, 18, died near the Foot Locker sports shop at the junction of Oxford Street and Stratford Place at about 1.45 p.m. GMT (8.45 a.m. ET) close to Bond Street Tube station, reported BBC News.

Pictures on Twitter showed medics trying to save the man, who the newspaper said staggered from the store before collapsing on the pavement.

A Metropolitan Police spokesman said 10 people had been arrested but was unable to confirm if the victim had been involved in a dispute over a pair of shoes.

"It is too early to tell for certain," he said. "As you can imagine, there are literally dozens of witnesses in what would have been an extremely crowded street and it is going to take time to sort out what exactly happened."

A section of Oxford Street from Bond Street Tube station towards Selfridges department store was closed while investigations continued.

Several shops in the area have been forced to shut early because they were inside the police cordon.

An employee at the nearby Disney Store told BBC News the company's outlet was "unlikely to open again today."

msnbc.com's Alastair Jamieson contributed to this report.