While retail revenues grew 8 percent to £107.2 million at
British accessories brand Mulberry, pretax profit dropped 28 percent. Profits
were down from £36 million to £26 million in the year ending 31st March,
reflecting Mulberry’s investment in international stores and lower sales from
the wholesale business. The company also disclosed it was experiencing a
difficult time in Europe, where it generates 80 percent of sales. It said it is
now focusing on ramping up brand awareness campaigns to target the USA and
Asia.
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