Bloomberg News

Mulberry to Miss Estimates After ‘Disappointing’ Sales

March 22, 2013

(Corrects typographical error in company name in headline.)

Mulberry Group Plc (MUL), a British luxury-handbag maker, said full-year sales and profit will miss estimates because of weak business in the last 10 weeks.

Pretax profit for the year ending March 31 will be about 26 million pounds ($39.5 million), the company said today in a statement. That compares with the 30.7 million-pound average estimate of three analysts compiled by Bloomberg. Revenue will be about 165 million pounds, Mulberry said, compared with the 176 million-pound average estimate.

“Trading across the retail portfolio during the last 10 weeks has been disappointing, including a reduction in tourist spending in the London stores,” Mulberry said.

To contact the editor responsible for this story: Paul Jarvis at pjarvis@bloomberg.net


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