29 Jan '14, 9am

Handbag price war prompts profit warning from Mulberry: Shares in luxury brand drop 18% after UK trading envir...

British luxury label Mulberry issued a surprise profit warning on Wednesday, admitting it had suffered in the price war over handbags in the crucial Christmas shopping period. The Somerset-based brand, whose designer handbags have been toted by celebrities such as Victoria Beckham and Kate Moss, saw its shares drop by 18%, after it told the City the UK trading environment had "deteriorated" with "substantial discounting" over the Christmas period. UK sales were down 3% in the 17 weeks until 25 January, "reflecting the competitive environment in the UK", the company said. International sales were up sharply, rising by 40%, but Mulberry said the cancellation of large orders from Korea meant it would end the financial year with wholesale sales down 10% on last year. Total sales are expected to be flat compared with last year. In a financial statement, Mulberry said that "the ...

Full article: http://www.theguardian.com/business/2014/jan/29/mulberry-...

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Handbag price war prompts profit warning from M...

theguardian.com 29 Jan '14, 9am

British luxury label Mulberry issued a surprise profit warning on Wednesday, admitting it had suffered in the price war ov...

Mulberry shares dive on profit alert: Luxury handbag maker Mulberry says full-year profits will "substantially...

Mulberry shares dive on profit alert: Luxury ha...

bbc.co.uk 29 Jan '14, 12pm

"Due to tough trading conditions over the Christmas period which saw significant discounting across the market, Mulberry h...

Mulberry shares dive on profit alert - Luxury handbag maker Mulberry says full-year profits will

Mulberry shares dive on profit alert - Luxury h...

bbc.co.uk 29 Jan '14, 12pm

"Due to tough trading conditions over the Christmas period which saw significant discounting across the market, Mulberry h...

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