you have to remember what the stores are there for - they're not for the likes of you or me (as in gamers who have been playing a while, have armies and want to add to / buy new ones), they're there to push the Intro boxes, pure and simple. The stores are KPI'd based on how many 'sign ups' they manage (sales of intro boxes), how many beginner paint sets are sold - not on how many blisters are sold.
That single, salient fact tells you more than any P&L - the stores are the 'gateway' to the 'GW Hobby' - in fact, GW would rather not refer to them as 'stores', but 'hobby centres' or 'outlets'. Don't forget, in just about every preamble he writes, TK insists that GW are 'a manufacturer NOT a retailer'.
GW won't be doing away with B&M any time soon - it's just too important to their (flawed) business strategy.