Global handbag and accessories retailer Mulberry has reported full-year trading “in line with expectations” with group revenue “slightly ahead of last year”, according to the fashion retailer.

Mulberry

Mulberry has reported full-year trading in line with expectations

The global handbag and accessories retailer reported an “improvement” in retail revenue in its second half, which it credited to “good performance in the UK and an improving environment in China over recent months”.

Mulberry also said its group profitability was “as usual, weighted to the second half” of the full financial year.

In its trading update for the full year to April 1, 2023, Mulberry said it “continued to make progress against its strategic priorities”, including maintaining its gross margin as a result of full-price sales as well as further investing into the Asia-Pacific region, supported by the opening of a duty-free store in Hainan, China.

Mulberry said it had continued investing in global brand awareness and developing its business model during the year, and emphasised it “remains focused” on its growth strategy moving forward.

Mulberry chief executive Thierry Andretta said: “This year we have continued to deliver on our strategic objectives while demonstrating resilience in the challenging macro-economic environment.

“We’ve invested in our omnichannel approach, improved our direct-to-customer-model and maintained gross margin.”

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