THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Mulberry profits up 54%

Mulberry, the luxury handbag and leather goods retailer, has reported a 54% rise in its full-year pre-tax profit as the company continues to focus on international expansion.

CITY & CORPORATE

Mulberry profits up 54%

Pre-tax profit increased to £36 million in the year to 31 March 2012, while sales rose 38% to £168.5 million.

In addition, the company made a good start to the current financial year with retail sales up 12% for the 10 weeks to 9 June 2012 and like-for-like sales at UK full price stores rising by 14%.

Mulberry’s global expansion continued throughout the year with international revenues growing 61% to £65.2 million, accounting for 39% of group revenues.

The company opened 14 stores during the year in the UK, Netherlands, the US and Asia and is targeting the launch of 15-20 new international stores in the current financial year.

Chairman Godfrey Davis said: "This year has seen us deliver another strong set of results and we have performed well against expectations.

"While the current economic conditions make the short term trading outlook more challenging in some markets, we remain confident about Mulberry's long term future. We continue to focus on developing our business internationally, opening new stores and building the foundations for long term growth."

Online sales grew by 58% to £14.5 million in the year, accounting for 9% of group revenues.  The group said its website was proving to be a key marketing tool for the brand in addition to being a profitable and growing sales channel.

Mulberry also announced it is to build a second factory in Somerset, which will double its UK capacity and create 300 jobs.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing