Mulberry Share Discussion Threads

[gregpeck7] 01/12/2022 11:06:58

So much less? Revenue was down 1 percent, currently trading ahead of last year and China ending lockdowns... again what are you smoking?

[clocktower] 01/12/2022 10:59:51

The days of showing off wealth by buying expensive bags is numbered, hence they move to a sustainable rejuvenation model.

Was it 10,000 bags they have given new life too - surely that must be a sign that the wealthy are not now just going out and buy new luxury goods but want to be seen to be looking after the environment.

Seeing they sold so much less over the past six months I wonder if they have had to lay off skilled staff that make these bags. I bet once they have laid them off it is hard to get them back, so maybe they carry them for a while.

[gregpeck7] 01/12/2022 09:42:49

Confirmed on BBC now

[gregpeck7] 01/12/2022 09:37:14

China lifting lockdown measures just in time for Christmas!

[gregpeck7] 01/12/2022 08:37:03

L2 4 v 1 buy while you can at these levels.

[quietlife] 30/11/2022 22:47:47

PXEN looking good, what’s happened here

[gregpeck7] 30/11/2022 21:19:03

US rates peaking in Dec. DJIA flying. This looks all set for a BIG rally.

LVMH closed up 35 euros! All time high

Mkt cap now 370 BILLION!

Luxury is on fire.

[gregpeck7] 30/11/2022 13:50:41

Agree. But seeing as both parties are incredibly wealthy I think that is highly unlikely. I think at least 800p per share would be needed to get this off them. But yes point valid. They could do something like that.

[essentialinvestor] 30/11/2022 13:43:32

Greg, just keep in mind the majority owners could table a nil premium offer,
(to the best of my knowledge).

I am not suggesting this will happen, however it is a possibility.


The majority owners in MAB did this a while back and the bid failed as they
did not hold enough of the shares to get the offer through, when other
holders objected.


The two main holders in MUL have around 90% of the share capital between them?.

[gregpeck7] 30/11/2022 11:30:11

1 MM left at 270 then its 290... Maybe people are actually reading the results now! The more you read them, the more you can see they are rock solid.

1% down Revenue
71% margin maintained
Forward guidance sales are ahead of last year
Frozen energy prices at 2021 levels
Large inventory in place to ensure no supply chain issues
Wholesale growing strongly
Sweden new market opened
Bought out Australia to run by Mulberry not Franchise
Forward margins guided at 71%

This is a success.

Could have been better , but what retailer is currently smashing it? Arguably Burberry but its tough out there...

Cash was down, but its not because of losses, its because of investments and inventory. Thats a huge difference.




Just think how awful recent news flow was.. Particularly march to june.. Its a miracle in many ways they have only taken a 1% revenue hit.

Ukraine fallout at its peak, inflation peaking etc. Yet they raised prices and maintained the margin. I expect Jan will be their only sale of the year.

Fixing energy in 2021 for 3 years is huge as well. All being well, they come out of that deal in 2024 and prices are falling back significantly. That's a huge bullet dodged.

This is by mkt cap a tiddler 140m odd I think, that is teeny tiny. If anything the chance of someone taking advantage and taking them over is probably greater than ever now.

Burberry on record saying they want to "go British" and emphasise their "Britishness" as the Washington post say, best way to do that.. Buy Mulberry.




Now ask yourself, were these results actually bad at all? I think they were actually pretty good!

The more you read them, the more you can see this is a well run company doing well.

[gregpeck7] 30/11/2022 11:15:57

Crazy thing is I still don't really get the whole bad results narrative..

[csmwssk12hu] 30/11/2022 11:10:38

I’m looking at this and thinking this is going to be well over £3 by the end of the day

[disruptor1664] 30/11/2022 08:39:27

The old kiss of death by Greg once again.

[gregpeck7] 30/11/2022 08:33:30

That's been the trend here ever since lock downs ended. Read previous sets of results. Online is still well ahead but stores still dominate.

[clocktower] 30/11/2022 08:30:24

Please yourself but if they provide an update after Christmas your view might change.

Online sales dropping as people return to the shops, is not a good thing for Mulberry as costs increase from retail locations.

[gregpeck7] 30/11/2022 08:26:54

2000 buys and it rockets. This is being massively played ... only 1 seller at 250 as well. I think when peeps sit down and look at these numbers they will see they are pretty impressive. Considering 1h 2022 was probably one of the worst periods on global history! Also energy costs fixed for 3 years and prices for 2021. Not bad!

[gregpeck7] 30/11/2022 08:24:49

Clocktower. You clearly have as ever an agenda. When you add in 17m for stock, setting up Sweden. Buying out Australia. All of which are assets you can see where it went. It's not gone out the door in a loss it's a strategic investment. Current trading. And now is when they make the money. Is ahead of last year on last 8 weeks. How is that not good?!

[gregpeck7] 30/11/2022 08:23:20

Last 8 weeks trading up yoy and therefore I doubt it.. you do realise they were also more challenging comparable. Very volatile this one but I think this is a huge over reaction and a massive buying op. Revenue was 1 percent down with a 71 percent margin. That's hardly a car crash. The next 100m circa is being generated right now.

[clocktower] 30/11/2022 08:22:33

This is what you need to concentrate upon:

"We ended the period with net cash of £6.5m (2021: £30.3m) and deferred liabilities of nil (2021: £5.0m) and remain in a strong financial position with which to continue to progress our strategic goals."

That is a mighty drop in available cash.

[clocktower] 30/11/2022 08:18:36

Far from overdone, you have just had the results to 01.10.2022 - Think after Christmas there are going to be sales and with stocks so high, likely slashing the prices in the stores to shift old stock.

£1.50 target.

DYOR

[clocktower] 30/11/2022 08:15:07

No the main shareholder will not allow that, I thought at one time they might but while the brand is valuable it is in decline and were it not for oversea sales it might be doomed imo.

The likes of Burberry are a whole different package.

[csmwssk12hu] 30/11/2022 08:13:02

That’s overdone now that time for a toe dip

[aishah] 30/11/2022 08:12:54

Disappointing results. Clearly the festive period is key now.