Almost 1000 stores in Melbourne's central shopping precinct will stay open late every day of the week, in a significant agreement to be announced by lord mayor Robert Doyle on Monday.

Later this month all retailers in and around the Bourke Street Mall, Melbourne Central, Melbourne's GPO and the new Emporium Melbourne will begin trading until at least 7pm every night.

Late-night trading will continue on Thursdays and Fridays, when shops are open until 9pm.

Fairfax Media understands the announcement could be the first in a series of agreements to extend trading hours in the precinct enclosed by the Bourke Street Mall, La Trobe Street, Elizabeth Street and Swanston Street.