Mulberry lifts FY forecasts after stellar Christmas

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%.

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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."