06 Dec '17, 7am

"Handbag Maker Mulberry Posts Flat First Half Group Revenues" by REUTERS via NYT

PARIS — Britain's Mulberry, known for its classic leather handbags, posted a 2 percent rise in retail sales in the first half of its fiscal year and flat total revenues, at a time when it is making a greater push into Asia. The company has lowered prices over the past two years to go back to its roots as an "affordable luxury" label, after an ill-fated attempt to go more upmarket, and is developing its business in Japan. Mulberry's retail sales reached 56.6 million pounds in the six months to end-September, up 2 percent from the same period in 2016. They were down 1 percent, however, on a like-for-like basis, which compares stores that have been trading for a year or more. Total revenues, including from wholesale distribution, were broadly unchanged from a year earlier while the group posted a pre-tax loss of 609,000 pounds versus a 515,000 pounds loss a year earlier. (Rep...

Full article: https://www.nytimes.com/reuters/2017/12/06/business/06reu...

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