Mulberry Earnings Decline After CEO, Creative Head Leave
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Mulberry Group Plc, the U.K. luxury bag maker that’s seeking a chief executive officer and creative director, reported a second straight decline in annual earnings amid weaker third-party sales at home and in Asia.
Pretax profit for the 12 months through March fell to 14 million pounds ($23.5 million) from 26 million pounds a year earlier, Somerset, England-based Mulberry said today in a statement. The company said in April that profit would be about that amount, lowering its estimate for the second time in less than three months. Wholesale revenue slid 6 percent.