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Mulberry swing to a loss over collapse of House of Fraser

by LLB Reporter June 19, 2019

written by LLB Reporter 19^th Jun 19 3:00 pm

Mulberry has seen a difficult in trading as the collapse of the house of Fraser has taken it’s toll.

In the 53 weeks to 30 March, the luxury brand retailer reported a pre-tax loss of £5m, down £6.9m compared to the previous year.

The collapse of the House of Fraser cost the luxury retailer £2.1m with additional costs of the launch of a South Korean subsidiary. With this stripped out adjusted profits were just £1m.

Revenue slipped to £166.3m, down £169.7m compared to last year and international sales were up 7% and the UK was down by 6%.

Chief executive Thierry Andretta said, “Looking ahead, we anticipate that international and digital sales will continue to grow whilst UK retail trading conditions are expected to remain uncertain.

“The group plans to invest further in its new Asian entities during this development phase, enhance its global digital platform and optimise the UK network.”