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."
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
