David M Robinson Sales Tick Up To £60 Million
David M Robinson reported a 3% increase in sales, reaching £60.4 million for the year ending March 2025, despite facing a challenging retail environment. The operating profit fell by 4% to £5 million, significantly lower than the peak financial year of 2021-22. The decline in profits has been attributed to substantial investments in upgrading showrooms, leading to increased rents and depreciation costs. The commentary on the retail sector's outlook remains cautiously optimistic, highlighting the negative impact of the absence of a tax-free shopping scheme for international tourists, which has diminished the appeal of the UK luxury market. Additionally, ongoing issues such as rising business rates and national insurance costs continue to create operational challenges and uncertainty within the sector.
