MULBERRY GROUP (MUL) Trading update summary

Trading performance highlights

• Achieved group total sales growth of 5.3% year-on-year, with all regions contributing positively.

• Retail and digital like-for-like sales increased by 11%, with digital & ecommerce up 11% and retail full-price sales up 19%.

• UK sales rose 3.5% overall, with like-for-like up 6.5%, and a higher proportion of full-price sales online.

• US sales grew 12.7%, Europe 14.9%, and Asia Pacific 0.8%, with strong digital and festive period performance.

• Asia Pacific like-for-like sales up 12.2%, driven by strong Double 11 festival results.

Strategic and operational update

• Focused on full-price sales and new product launches, outperforming a highly promotional market.

• Strategy centered on simplifying operations, refreshing the brand, and leveraging customer insights.

• Re-engaged existing customers and attracted new ones, reinforcing the brand's core offering.

• Maintained disciplined cost control while growing sales and brand relevance.

• Christmas campaign met expectations, with strong demand for key products like Roxanne, Hackney, and Bayswater.

Outlook and leadership comments

• Entering the final quarter with strong momentum and a focus on sustainable, profitable growth.

• CEO highlights early success of the 'Back to the Mulberry Spirit' strategy and ongoing brand reinvigoration.

• Continued emphasis on creativity and cultural relevance to drive future performance.