Mulberry reports a significant revenue drop and increased losses, prompting a major internal review.

Mulberry, a luxury fashion brand, reported a 19% drop in revenue to £56.1 million for the six months ending September 28. CEO Andrea Baldo stated the need for a "rebuild" amid a challenging economic environment. Sales in the Asia Pacific region fell by 31% and UK sales dropped by 14% due to low consumer confidence. Pre-tax losses increased to £15.7 million. Mulberry is undergoing an internal review to streamline operations and return to profitability.

November 19, 2024
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