Liverpool jewellery retailer David M Robinson battles ‘challenging trading environment’ and rising costs to push annual sales above £60m. Tony McDonough reports
Annual sales at Liverpool jewellery retailer David M Robinson (DMR) rise above £60m despite a “challenging trading environment” and soaring costs – but profits are slightly down.
DMR, which operates three outlets in Liverpool, three in Greater Manchester and two in London, has posted its annual accounts on Companies House, covering the 12 months to March 31, 2025.
They show a 3% rise in sales to £60.4m and a fall in pre-tax profits from £5.1m last year to £4.7m. Dividends totalled £1.46m, most of which were paid to founder David Robinson. £70,000 was also paid to “a close family member of a member of key management personnel”.
David Robinson trained as an apprentice goldsmith for a jewellery repair business on Liverpool’s Hanover Street in 1962. He gained his qualifications at night school and opened his first DMR jewellery store in South John Street in 1969.
He remains the sole shareholder of the business. However, the day to day operations are run by his son, John Robinson, who is the managing director.
DMR’s flagship Liverpool store is in South John Street in Liverpool ONE with a watch boutique, operated in partnership with OMEGA, on the same street.
In December 2023 it opened a third outlet, also in South John Street, in partnership with Swiss watch brand, TAG Heuer.
There are two DMR outlets in Manchester city centre, one in Altrincham and two in London, one at Canary Wharf and in September 2023 it opened a DMR Boutique at the new Peninsular Hotel in Belgravia, London.
Writing in the annual report, John Robinson said: “There was a full year of trading across the estate but the slowdown reflects a more challenging trading environment with consumer spending patterns remaining unpredictable.
“Despite these headwinds the company has achieved revenue growth by its continued strong reputation for quality and service, attracting new customers as well as retaining the loyal and long-established client base.”
He added that “substantial investment” in upgraded showrooms had led to higher rent and depreciation costs. John also said: “The company’s short-term outlook for the UK retail sector remains optimistically cautious.
“The continued absence of a reinstated tax-free shopping scheme for international tourists has materially impacted the attractiveness of the UK as a destination for luxury retail.
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“Furthermore, the lack of a coherent long-term strategy to address business rates and the rise in employers’ National Insurance continues to create uncertainty, operational strain and additional cost pressure across the sector.”
A week ago LBN revealed that family owners of the famous Boodles Liverpool jewellery brand will share almost £8m in dividends despite the 227-year old business reporting a fall in pre-tax profits.