Mulberry Sales Rise 57%, Lifts Full-Year Forecast

Somerset, England–Shares in Mulberry hit a new highs last week after the British leathergoods brand reported record sales increases for the 10 weeks ending October 1.

Sales in the group’s 40 main United Kingdom stores rose 57% compared with the same period last year. Same store sales across all 90 stores worldwide were even better, rising 79%.

Godfrey Davis, ceo said: “We’re seeing good organic growth in the markets where we’ve historically been strong–in the UK and Europe and we’re also seeing equally strong – if not stronger – growth in our newer international markets.”

The results have led Mulberry to predict sales and profits for the year to March will greatly exceed market predictions. Order intake for its wholesale business this fall is expected to be 100% above 2009 levels.

Although Mulberry also makes shoes and women’s wear, more than 95% of revenues come from leather goods, including bags, luggage and accessories. In total, men’s and women’s bags make up 75% of group sales.

The U.S. market is one where Mulberry plans expansion. In addition to recently opening a showroom in New York, Mulberry partnered with Target on a capsule handbag collection for holiday which premiered Sunday online.

 

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