The hardware retailer's turnover increased by 0.9% to £165.6 million, but the company's accounts blamed falling high street activity for the sales decline. Robert Dyas's MyDyas loyalty scheme has 1.9 million members and accounts for about 25% of its in-store transactions.
Robert Dyas was founded in 1872 as an ironmongery and is now owned by Theo Paphitis Retail Group, which also owns Rymans and Boux Avenue. TPRG has created new store layouts combining Robert Dyas with Rymans, including a flagship store on the Strand. Paphitis said he was concerned by the recent sale of WH Smith's high street stores to Modella Capital.
According to a company statement, Paphitis said: "At the end of last summer, I increased my direct involvement in the brand, taking up the role of interim CEO to steady the ship and refocus the strategic direction with the brand." The company added: "As widely reported, the high street experienced weaker footfall and we felt the impact of this in our stores."