Tommy Hilfiger Outlet Mulberry is bagging big sales

Mulberry is bagging big sales of iconic carry

Yesterday British luxury goods group Mulberry reported 21 per cent sales growth in the last ten weeks, showing demand for bags with its discreet tree logo remains strong.

Mulberry’s chairman and chief executive, Godfrey Davis, admitted extravagance is now unfashionable. But he claimed the “understated British style” of his handbags remained in demand with cautious but still fashion conscious shoppers.

But, according to the group’s interim results yesterday, sales at Mulberry have been boosted by the Mitzy range, which Davis said became instant bestsellers. These retail for 300 to 700.

Mulberry has two shops in Scotland and in its outlet on Multrees Walk, Edinburgh, the biggest sellers are the cut price Mitzy range and the “iconic” Bayswater.

UK retail sales for the first ten weeks of its new financial year were Tommy Hilfiger Outlet up 26 per cent. On a like for like basis they were up an impressive 21 per cent. Sales were also boosted by tourists taking advantage of weak sterling.

Profits of 4.2 million in the year to 31 March beat expectations but were down from 5.2m the previous year. Last year the group opened shops in Leeds and London. The group is free of debt and plans to continue to pursue its expansion globally.

According to yesterday’s figures, the group overcame a September 2008 sales slump to have a good two weeks before Christmas, when sales “returned to healthy growth”. And while they have successfully introduced a line of cheaper bags, they did not have to resort to pre Christmas discounting.

Nevertheless, Mulberry expects wholesale orders to be down 15 per cent for the autumn/winter season and down 4 per cent for spring/summer 2010 as retailers cut orders to cope with lower demand.

Group sales rose 14 per cent to 58.6m in the year ended Ma Tommy Hilfiger Outlet rch 31, including a 15 per cent rise in whole Tommy Hilfiger Outlet sale sales, a 15 per cent rise in UK retail sales and a 2 per cent rise in UK like for like sales.

The jump in recent UK like for like sales was led by a 45 per cent surge in demand at discount factory outlets, which sell discontinued ranges at lower prices. Sales at full price stores were up 11 per cent.

Mulberry said stock levels had almost doubled to 14.8m because of lower than expected second half sale when production was planned before the downturn. But Mulberry has adjusted purchasing with an aim to reducing stocks to normal levels by the end of March 2010.

Shares in Mulberry were up 4.6 per cent to 68p. Analysts at its brokers Altium Securities maintained a “buy” recommendation and said “we think the shares are too cheap”.

This website and its associated newspaper adheres to the Press Complaints Commission Code of Practice. If you have a complaint about editorial content which relates to inaccuracy or intrusion, then contact the Editor by clicking here.

If you remain dissatisfied with the response provided then you can contact the PCC by clicking here.

The Scotsman provides news, events and sport features from the Edinburgh area. For the best up to date information relating to Edinburgh and the surrounding areas visit us at The Scotsman regularly or bookmark this page.

Cookies are small data files which are sent to your browser (Internet Explorer, Firefox, Chrome etc) from a website you visit. They are stored on your electronic device.

This is a type of cookie which is collected by Adobe Flash media player (it is also called a Local Shared Object) a piece of software you may already have on your electronic device to help you watch online videos and listen to podcasts.

Yes there are a number of options available, you can set your browser either to reject all cookies, to allow only “trusted” sites to set them, or to only accept them from the site you are currently on.

However, please note if you block/delete all cookies, some features of our websites, such as remembering your login details, or the site branding for your local newspaper may not function as a result.

The types of cookies we, our ad network and technology partners use are listed below:

Revenue Science A tool used by some of our advertisers to target adverts to you based on pages you have visited in the past. To opt out of this type of targeting you can visit the ‘Your Online Choices’ website by clicking here.

Google Ads Our sites contain advertising from Google; these use cookies to ensure you get adverts relevant to you. You can tailor the type of ads you receive by visiting here or to opt out of this type of targeting you can visit the ‘Your Online Choices’ website by clicking here.

Webtrends / Google Analytics This is used to help us identify unique visitors to our websites. This data is anonymous and we cannot use this to uniquely identify individuals and their usage of the sites.

Dart for Publishers This comes from our ad serving technology and is used to track how many times you have seen a particular ad on our sites, so that you don’t just see one advert but an even spread. This information is not used by us for any other type of audience recording or monitoring.

ComScore ComScore monitor and externally verify our site traffic data for use within the advertising industry. Any data collected is anonymous statistical data and cannot be traced back to an individual.

Local Targeting Our Classified websites (Photos, Motors, Jobs and Property Today) use cookies to ensure you get the correct local newspaper branding and content when you visit them. These cookies store no personally identifiable information.

Grapeshot We use Grapeshot as a contextual targeting technology, allowing us to create custom groups of stories outside out of our usual site navigation. Grapeshot stores the categories of story you have been exposed to. Their privacy policy and opt out option can be accessed here.

Subs Tommy Hilfiger Outlet criptions Online Our partner for Newspaper subscriptions online stores data from the forms you complete in these to increase the usability of the site and enhance user experience.