Luxury goods specialist Mulberry will beat profit expectations after a storming Christmas.
The retailer, famous for its handbags, reported that like-for-likes at its full price stores rocketed 70% in the six weeks to January 15. At its off price stores, the like-for-like advance was 34%.
Sales at Mulberry’s company-owned stores rose 66% altogether, while wholesale orders for spring 2011 are already up 104% with three months of the season remaining.
Mulberry reported: “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.”