Trading update

RNS Number : 9599T

Mulberry Group PLC

07 October 2010

 



Mulberry Group PLC ("Mulberry")

Trading update

Sales have been stronger than expected over the ten weeks to 2 October 2010, with our own UK shops up 57% compared to the same period last year. Like-for-like sales in our Full Price stores for the same ten weeks were 79% higher than the previous year, while Off Price sales were unchanged reflecting a shortage of merchandise.

Margins have increased, compared to the prior year, with a higher proportion of sales being made at full retail price. Additionally, due to the higher sales at full retail price, there were low end of season stocks for the summer sale and so mark downs were reduced.

Wholesale order intake for the Autumn 2010 season has improved further and is expected to increase by approximately 100% compared to the Autumn 2009 season. A similar pattern is developing for the Spring 2011 season.

As a result of this strong performance during the first half of the financial year and the positive outlook, the sales and profit for the year ending 31 March 2011 are expected to significantly exceed market expectations. However, on a cautionary note, results for the second half will, as usual, be sensitive to levels of trading during the important Christmas period and the reaction of consumers in the UK to the VAT increase in January 2011.

For further details please contact:

Pelham Bell Pottinger                          

Dan de Belder                                         0207 861 3232

Altium Capital   

Ben Thorne / Melanie Szalkiewicz             0207 484 4040

 

END

 

 

TSTKKADDBBDDKKK