Mulberry Investors - MUL

Mulberry Investors - MUL

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Mulberry Group Plc MUL London Ordinary Share GB0006094303 ORD 5P
  Price Change Price Change % Stock Price Last Trade
17.00 7.23% 252.00 16:35:20
Open Price Low Price High Price Close Price Previous Close
240.00 240.00 260.00 252.00 235.00
more quote information »
Industry Sector

Top Investor Posts

williemanjaro: rebel---watch ya back here------I`ll say no more.... Dont have the full article---but this summing up from yesterdays sunday Times--ha The pause that refreshes? That is what investors in Mulberry are hoping the recent share price fall is signalling, as the company gears up for another expansion drive overseas, opening 20 stores, including flagship outlets in Shanghai and Beijing. Nevertheless, the company will require quite a bit of marketing magic - if not luck - if it wants customers to put its wares in the same camp as Louis Vuitton and Chanel. Warren Buffett famously said: "Never invest in a business you don't understand." "I'm sorry; I just don't understand how you convince anyone to pay £3,000 for a handbag. Pass," says The Sunday Times´ Danny Fortson.
james111: goliard, i think maybe the CEOs chunk went to an institutional investor who couldnt pick up enough on the open market. we shall see James
lomax99: Mulberry bags a rebound in sales By Samantha Pearson Published: June 19 2009 03:00 | Last updated: June 19 2009 03:00 Bargain-hunting tourists and a late rush by UK shoppers for expensive leather handbags helped Mulberry recover from a difficult third quarter. After issuing a profit warning last December, sales at the luxury goods group have risen and surged 21 per cent on a like-for-like basis in the 10 weeks to June 9. Godfrey Davis, chairman and chief executive, said Mulberry had benefited from the weak pound, which had lured European tourists to its UK shops. But luxury accessories. and in particular the Mitzy handbag collection introduced in February, were also still popular among thrifty British shoppers. "In the current climate, over-the-top extravagance isn't very fashionable but our British heritage, slightly understated brand is suiting the current market conditions quite well and people buy our bags as investment pieces," he said. Although the group has refused to hold seasonal sales for fear of damaging the brand, Mulberry's "off-price" outlets - discount stores selling old collections - were the main driver of growth with sales rising 45 per cent. In its full-price shops, like-for-like sales rose 11 per cent in the 10-week period. However, while turnover rose 14 per cent from £51.2m to £58.6m in the year to March 31, pre-tax profits dropped from £5.19m to £4.18m, mainly due to investment in six new stores in the UK, Europe and the Middle East. Earnings per share dropped from 6p to 4.5p but the debt-free group still maintained its dividend at 2p. Mr Davis said he remained cautious about the outlook for wholesale sales this year, which account for 40 per cent of revenue. The group forecast wholesale orders for the autumn/winter collection would drop 15 per cent year-on-year and fall 4 per cent for the spring/summer ranges next year as retailers remain wary of stocking up on luxury goods. The shares closed up 2¾p at 67¾p. * FT Comment In spite of its appeal to tourists as a British heritage brand, Mulberry was only set up in the 1970s. However, its immaturity should be the real appeal to investors. Compared with rivals in the sector such as the vast 19th-century Burberry empire, Mulberry's compact size of less than 80 shops and fascias leaves it less exposed to difficult markets and better able to expand in an upturn. On a pre-tax profit forecast of £2.9m, the shares look cheap on a forward price/earnings ratio of about 19. ------------------------------------------------------------------ Not entirely sure a PE of 19 could be called cheap, probably more re-inforcing a perception of quality!
irenekent: Good results and a 50% div increase. I'm suprised this is so overlooked by investors. I suppose its only us girls who are into handbags!
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