Mulberry Group Regulatory News (MUL)

20 Jan 2005 07:00

Mulberry Group PLC20 January 2005 MULBERRY GROUP PLC ("Mulberry" or the "Group") TRADING UPDATE 20 JANUARY 2005 Underlying trends continue to be positive and the results for the full year to31 March 2005 are likely to exceed current market expectations. The Spring 2005 order book for accessories continues to out performexpectations. Orders from the new markets of the USA and Asia are ahead of planand will exceed £1 million, most of which will be shipped before 31 March 2005.Following the successful launch this winter in Bergdorf Goodman and Barneys NewYork, Neiman Marcus has taken Mulberry handbags regionally across the USA into13 stores for Spring 2005 and plan to expand to 20 in Autumn 2005. Ourdistributor in Asia, Club 21, opened a first shop in Hong Kong at the end ofOctober 2004. This shop has made a strong start leading to increased orders andthey plan to open shops in Bangkok and Kuala Lumpur in the first half of 2005. Sales in Mulberry's own stores continue to grow strongly. Like for like sales inthe full price UK shops were up 14% for the 14 weeks to 1 January 2005 and up15% for the five weeks of the Christmas period to 1 January 2005, continuing thetrend disclosed in the interim results announcement. GODFREY DAVIS, CHAIRMAN AND CHIEF EXECUTIVE COMMENTED: "Our customers haveresponded well to our strategy of investing in design to develop great products.Orders for our core leather goods and, in particular, women's handbags havecontinued to grow strongly. Our own shops have experienced sustained salesgrowth and a strong Christmas." ENQUIRIES: For further information, please contact:WMC CommunicationsDavid Wynne-Morgan / Charlie Geller - 020 7591 3999 This information is provided by RNS The company news service from the London Stock Exchange