Mulberry reports post-Christmas slowdown in market
West handbag maker Mulberry has warned its profits will miss expectations after a post-Christmas slowdown in the luxury goods market.
The Somerset-based firm, whose explosive growth of recent years has made it one of Britain’s biggest export success stories, said sales over the past 10 weeks were disappointing.
Its shares slid 15 per cent after the profits warning.
Chief executive Bruno Guillon said: "We continue to reinforce Mulberry’s luxury positioning through an enhanced focus on creativity, craftsmanship and quality."
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The company recently announced plans to open a second factory in Somerset to keep up with demand.