Mulberry to Miss Estimates After ‘Disappointing’ Sales

(Corrects typographical error in company name in headline.)

Mulberry Group Plc (MUL), a British luxury-handbag maker, said full-year sales and profit will miss estimates because of weak business in the last 10 weeks.

Pretax profit for the year ending March 31 will be about 26 million pounds ($39.5 million), the company said today in a statement. That compares with the 30.7 million-pound average estimate of three analysts compiled by Bloomberg. Revenue will be about 165 million pounds, Mulberry said, compared with the 176 million-pound average estimate.

“Trading across the retail portfolio during the last 10 weeks has been disappointing, including a reduction in tourist spending in the London stores,” Mulberry said.

To contact the editor responsible for this story: Paul Jarvis at pjarvis@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.