Mulberry turnaround plans pay off as Q1 sales rise 23%

(Sharecast News) - Luxury handbag maker Mulberry reported a strong start to its new financial year on Wednesday, posting a 23% jump in revenue for the first 13 weeks as momentum in its turnaround strategy continued to build. The luxury brand said momentum had strengthened across all regions, with customers responding positively to its renewed focus on heritage design and full‑price sales as losses in the 52 weeks to March 28 narrowed to £9m from £32m.

Management pointed to improved sell‑through and tighter inventory discipline as key contributors to the performance, noting that the "Back to the Mulberry Spirit" plan was delivering early, tangible results.

Despite the encouraging start, Mulberry acknowledged that the wider luxury market remains uneven, with currency volatility and patchy global demand still presenting challenges. Even so, the group said its strategic reset had left it better positioned to navigate external pressures, with a clearer brand identity and a more disciplined commercial approach.

Reporting by Frank Prenesti for Sharecast.com