STORY: British luxury handbag maker Mulberry reported a return to annual sales growth on Monday.Its turnaround gathered pace despite weakening consumer spending facing the wider retail sector.Its shares were up nearly 8% in morning trade.The company posted full-year revenue growth of 5.7% on a constant currency basis for the year ended March 28th.It was driven by double-digit growth across all markets in the second half…with like-for-like retail and digital sales in its core UK market rising 13.7%.Mulberry’s performance stands out against a backdrop of a struggling broader retail sector.It’s as cautious UK consumers increase savings amid sluggish economic growth…while demand has been slow to recover in key luxury market China.Recent fallout from the Iran war has also hit high‑margin airport retail and demand in the Gulf.Under CEO Andrea Baldo, who took over in 2024, the company has pursued its strategy focusing on an appeal to “British heritage”.
