Global demand for Mulberry's upmarket handbags and leather accessories continued to defy the economic gloom as it announced full year results are now likely to beat earlier expectations after robust demand over Christmas.
Mulberry, which has 86 stores and concessions worldwide, saw strong growth in both the retail and wholesale businesses over the six week Christmas trading period.
Retail sales for the six weeks to 14 January 2012 rose 41% compared to the same period last year while like-for-like sales increased 35%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mulberry, which has seen particularly strong wholesale growth in Asia, said wholesale orders for Spring/Summer 2012 are currently up 35% compared to the Spring/Summer 2011 end of season total with more than two months of the selling season remaining.
Chairman and chief executive Godfrey Davis commented, "Trading during Christmas and the New Year has been strong and consequently the results for the year to 31 March 2012 are likely to exceed our earlier expectations."
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
