Luxury fashion retail brand Mulberry has today suggested that its full-year results will now be of expectations due to very strong Christmas trading.
In the six weeks to January 14th 2012, total retail sales at the handbag, shoe and leather goods specialist rose an impressive 41 per cent and improved 35 per cent on a like-for-like (LFL) basis compared to the same period last year.
This festive flood of trading activity boosted earlier decent but less dramatic sales growth during the brand’s quarterly trading period, with sales up until December 2nd 2011 rising just 14 per cent LFL.
Over the full quarter – the 16 weeks to January 14th – LFLs grew by 25 per cent, well ahead of previous estimates.
Godfrey Davis, Chairman & CEO of Mulberry, commented: “I am delighted that trading during Christmas and the New Year has been strong and consequently the results for the year to 31 March 2012 are likely to exceed our earlier expectations.”
Much like in the grocery market at present, Christmas trading figures have shown that those operating at the top and bottom ends of fashion are the retailers prospering best in today’s climate, just as long as customers buy into their value proposition.
Fellow luxury brand Burberry posted similarly impressive sales growth for the Christmas period earlier this week, with British high end fashion proving increasingly popular in international markets.
Demand for Mulberry’s Spring/Summer range also looks strong, with wholesale orders for the products up 35 per cent compared to last year with more than two months of the selling season remaining.