Handbag demand fuels fashion retailer's progress
Mulberry expects its full-year results to exceed market expectations following strong handbag sales.

The AIM-listed luxury leather goods retailer reported a 50 per cent increase in like-for-like sales in the 11 weeks to the end of April for its full-price UK stores. It said sales in its off-price retail outlet remained satisfactory.

The group also reported strong wholesale figures for its accessories. The number of spring orders that have been placed is up 55 per cent on the previous year, with 8 weeks of the season still remaining.

Chairman and chief executive Godfrey Davis said: 'Accelerating sales have outstripped expectations. The outlook is very positive, with strong demand for Mulberry handbags from all markets.'

The group achieved a profit for the first time in December since it floated eight years ago.