Royal approval can not save the falling profits of Russell & Bromley, as rising costs and falling sales take their toll
City & Finance Reporter for the Daily Mail
The Duchess of Cambridge wears a pair of Russell & Bromley wedges
Profit at Russell & Bromley more than halved last year as rising costs and falling sales took their toll.
The more expensive shoe and handbag merchant, whose customers have taken the Duchess of Cambridge, recorded a 55.7 percent drop in profits to £ 6.2 million in the year to end December.
Revenue decreased 6.2 percent to £ 100.6 million compared to a year earlier.
Russell & Bromley was founded in 1873 by cobbler George Bromley, who married the daughter of his employer, Albion Russell.
The company is still owned by the Bromley family and run by Roger Bromley, the great-grandson of the founder.
The shoes were worn by Prime Minister Theresa May, including a couple of £ 215 Leopard print kitten heels.
Russell & Bromley close London stores at Oxford Circus and High Street Kensington after closing four stores last year.
It accused the weaker pound, minimum wage requirements and bills of rent and business rates for increasing operating costs.
Karla Rendle from researcher Global Data said: "Russell & Bromley should better justify their prices by demonstrating the credibility of their quality and value for money, otherwise they risk reducing the 1.3% market share in the UK. . & # 39;