I think the issue is more likely the discount that Hornby are having to offer to get their sets onto M&S shelves rather than the margin that M&S work on, although in the past we've seen M&S dump Hornby trainsets at ridiculously low prices in the aftermath of Christmas.
I think the increase in my operating costs was actually lower than the 5.6% increase in turnover, so I wasn't unhappy with that. I guess I'm fortunate in owning my shop property so I'm not subject to the vagaries of rent increases, whilst over the last couple of years the rates for small business has actually REDUCED quite significantly, following a government initiative which has seen a 50% reduction in rates to businesses which own (or operate) just one property with a RV below a certain level.
Obviously though I've no control over the level of expenditure which my wife feels entitled to on her Christmas and birthday pressies!
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