Mulberry falls as UK sales struggle

AIM-listed fashion accessories firm Mulberry (LON:MUL) has seen its share price drop by 4.20% to 268.25p (as of 10:30 GMT) after its loss for the half year ended 28th September due to tough UK market conditions. International sales rose by 12% driven by East Asian markets, but UK sales fell by 4%.

CEO Thierry Andretta commented: “We have made further progress with our strategy through continued investment in a direct to customer, International, Digital and omni-channel model.

We are seeing the benefit of recent initiatives in Asia which remains a significant growth opportunity. This will support our ambition for international  to become a greater proportion of group revenue.

As part of our approach to sustainability, we are progressing the use of recycled materials and sourcing 65% of our leathers from environmentally certified tanneries while maintaining an accessible luxury price positioning.

Looking forward, we will continue to build Mulberry as a global luxury brand with a strong focus on sustainability and innovative product, appealing to both our existing customers and new audiences“.