Mulberry

Today’s news in brief-1/10/24

Mulberry has turned down an £83m acquisition bid from Frasers, arguing it undervalues the company’s potential. Frasers offered 130 pence per share for a 36.8% stake, prompting Mulberry’s board, backed by majority shareholder Challice, to reject the offer and focus on CEO Andrea Baldo’s turnaround strategy. Authentic Brands Group has…

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Mulberry rejects Frasers’ £83m takeover offer

Mulberry has rejected a £83m offer from Frasers to take over the company, after stating its offer “did not recognise the company’s substantial future potential value”.Frasers had made the 130 pence-per-share offer yesterday, which would see it acquire 36.8% of the handbag company.  Mulberry’s board said it carefully considered the…

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Today’s news in brief-30/9/24

Boohoo is reportedly considering a break-up of its business, following pressure from shareholders to revive the company’s declining fortunes. Boohoo’s share price has dropped by over 85% in the last five years, and the company has faced widening losses. The board is said to be contemplating spinning off its core…

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Mulberry to raise £10m amid £34m loss in FY24

Mulberry has announced a plan to raise £10m as it faces a loss before tax of £34.1m for the year ended 30 March 2024.  The retailer attributed the result to reduced revenue and margin in the period, along with increased operational costs.  Group revenue was down 4% to £152.8m with…

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Mulberry revenues decline 4% in FY24

Mulberry Group revenues fell by 4% in the year ended on 30 March compared to the previous year against a backdrop of challenging macroeconomic conditions and a decline in luxury consumer spending.  Losses for the full year will be impacted by the additional operational costs of new stores in Sweden…

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Today’s news in brief-17/1/24

In a surprising turn of events, inflation in December exceeded economists’ predictions, rising to 4%, contrary to the forecasted decrease to 3.8%. The Office for National Statistics (ONS) reported that the upswing was driven by increases in fuel and tobacco prices. Notably, alcohol and tobacco division prices surged by 12.8%,…

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Mulberry revenue falls 8.4% amid luxury spending slowdown

Mulberry has revealed that its group revenue dropped 8.4% for the 13 weeks ended 30 December 2023. The company stated that this was impacted by the challenging macroeconomic backdrop and decline in luxury consumer spending. Mulberry also revealed that in the run up to Christmas it maintained its full price…

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Today’s news in brief-30/11/23

Castore has successfully secured a £145m investment in a funding round led by Raine Partners. This investment aims to further disrupt the premium sportswear market and expand the brand’s global reach. Castore plans to develop its product range, enhance infrastructure, and invest in its people. The company, on track for…

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Mulberry H1 losses leap 79% despite healthy revenues

Luxury fashion group Mulberry revealed that operating losses grew 79% to £10.4m, despite a 7% increase in revenues to £69.7m for the half year ended 30 September.  The retailer also sustained an underlying loss before tax of £12.3m, which increased from £2.8m in 2022. This included £3.3m of SaaS costs,…

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Quiz non-exec director steps down

Fast fashion brand Quiz has announced that non-executive director Charlotte O’Sullivan intends to step down from the board of directors on 30 November 2023. The decision to step down comes as O’Sullivan relocates overseas. Given this O’Sullivan will not be proposed for re-election as a director at the group’s annual…

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