There is very little profit on new bikes, the shops have to rely on components and clothing to make their money. At the moment they can't get parts and any competent cyclist can buy online anyway at half the price in some cases and fit themselves. Then you get the people who will ty clothing and shoes in the shop for size and go away and order from an online retailer.
As for repairs, have you seen the outrage on this forum when someone gets charged more than the price of a cup of coffee for having something replaced or repaired by their LBS? In many instances the same people who will happily pay their car dealer £150 for an oil and filter change.
It is a wonder any local bike shops survive at all.
That really boils my piss, they should all be shot.
You see something similar on running forums where new runners are advised to go to a shop for a free gait analysis, which can often take at least half an hour by the time you've tried a few pairs, then buy the shoes from a discount website, don't start crying when the day comes that there are no shops left to take advantage of.
When I took me little girl to be fitted for a pair we went to a shop that charged £25 for the service which was then knocked off the price of the shoes, that's the way to do it.