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.
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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.
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