Blog home Mulberry rises 17% as consumers snap up its luxury handbags (1)Tweet this Comments (2) Shares in luxury fashion firm Mulberry are in style today after the company said full year sales and profits would beat expectations. Consumers may be worried about spending cuts and the gloomy economic outlook, but that has not stopped them splashing out on Mulberry's trademark leather handbags. The company said sales over the past ten weeks had been stronger than expected, up 57% in its UK shops. It is also selling more products at full price, improving its margins, while it had very little stock left for the summer sale, so mark downs were reduced. Wholesale orders for the autumn season are expected to double, while spring 2011 is also looking good. But, proving it is not completely resistent to the current climate, it cautioned that second half results would be sensitive to Christmas trading and the reaction to the VAT increase due in January. Overall though, with the strong first half, it said the result for the year to March 2011 was expected to "significantly exceed market expectations." So the shares have climbed 67.5p to 465p, a 17% increase, making them one of the day's biggest risers
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