Stellar start in 2011 for Mulberry
Jan 24, 2011
Mulberry has brought in 2011 with a bang, announcing trading has been very strong over thesix weeks to 15 January 2011, with own store sales up 66% compared to the same period last year. Like-for-like sales in the Full Price stores for the six weeks were 70% higher than the previous year, while like-for-like Off Price sales were up 34% due to the increased availability of inventory.
Margins for the year to date continue to be strong as a result of improved operational gearing from increased volumes and due to a larger proportion of merchandise being sold at full retail price compared to the previous year.
Wholesale orders for Spring 2011 are currently 104% ahead of the prior year with three months of the season remaining.
As a result of this strong performance, the profit for the year ending 31 March 2011 is expected to exceed market expectations.