19th Oct 2026 15:06
(Alliance News) - Mulberry Group PLC on Monday reported healthy sales growth in the first half of its financial year boosted by strong performances in the US, Europe and Asia Pacific.
The Somerset, England-based luxury handbag maker said sales rose 18% in the 26 weeks to September 26 from the year prior, and by the same magnitude in constant currency.
By region, like-for-like sales growth was 9% in the UK, 34% in the US, 21% in Europe (ex-UK) and 24% in Asia Pacific.
Performance in the first half of the financial year was supported by strong customer demand across both seasonal and core collections, the firm said.
Shares in Mulberry were up 4.7% at 239.70 pence each in London on Monday afternoon.
Mulberry said it maintained a disciplined approach to trading, resisting discounting and generating strong full-price sales. Excluding markdown activity, promotional sales represented a 300 basis point lower proportion of sales than the prior year period, supporting gross margin performance, it added.
The US business continued to perform well, benefiting from increased customer demand, positive digital performance, including the launch of Bloomingdale's Marketplace, and the expansion of the brand's wholesale presence. The European business also performed strongly.
Against a challenging macro environment, Mulberry said it entered the second half with increased customer engagement and a strong product pipeline.
It remains focused on continuing to rebuild gross margin and on restoring profitability, targeting annual revenue of more than GBP200 million and a 15% adjusted earnings before interest and tax margin over the medium term.
Chief Executive Andrea Baldo said Mulberry was "very pleased" with the progress made during the half.
"The growth in full-price sales is particularly encouraging, demonstrating that our collections are resonating with customers across our key markets," the CEO added.
The firm will announce its first half results on November 19.
By Jeremy Cutler, Alliance News reporter
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