Mulberry reports 4% drop in annual sales due to luxury spending decline amid UK retail slump and China trade uncertainty.
Luxury handbag manufacturer Mulberry reports a 4% drop in annual sales due to high-end shoppers cutting back on spending. The British company attributes the decline in sales to challenging macroeconomic conditions and a decline in luxury consumer spending, with UK retail sales falling 3.2% and trade in China affected by economic uncertainty. Mulberry cautions that there is no immediate resolution to the trading difficulties in the UK and China.
May 01, 2024
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