Mulberry delivers improved retail revenue
Mulberry has delivered an improvement in retail revenue over the second half of its financial year following a good performance in the UK and an improving trading environment in China in recent months.
In a year-end update, the luxury brand said trading in the 12 months to 1 April was in line with expectations, with group revenue slightly ahead of last year and underlying group profitability, as usual, weighted to the second half. It also maintained gross margin due to a strategic focus on full price sales.
During the year, Mulberry continued to invest in the Asia Pacific region, including the launch of a duty-free store in Hainan, Greater China. It also established a transformation function to support the delivery of its strategy.
Thierry Andretta, chief executive of Mulberry, said: “This year we have continued to deliver on our strategic objectives while demonstrating resilience in the challenging macro-economic environment. We’ve invested in our omnichannel approach, improved our direct-to-customer-model and maintained gross margin. I would like to thank all my colleagues for their creativity and the fantastic service they provide to our customers.”
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