Mulberry reports strong Q3 trading performance

Somerset-based British luxury brand Mulberry has announced a robust trading performance for the 13 weeks to December 27, 2025. The group achieved revenue growth across all geographic markets, underpinned by a strategic focus on full-price sales during the competitive festive period. Group total sales increased by 5.3 percent at actual currency rates, while consolidated like-for-like (LFL) sales in retail and digital channels rose by 11 percent.

The performance indicates early success for the group's 'Back to the Mulberry Spirit' strategy, which focuses on simplifying operations and re-invigorating the brand’s cultural relevance. Retail full-price sales grew by 19 percent during the period, reflecting a positive consumer response to the group’s differentiated product range.

Andrea Baldo, chief executive officer of Mulberry, stated that the results demonstrate the brand's ability to maintain disciplined cost control while growing full-price sales. Baldo noted that products are resonating at the "right price," with particularly high demand recorded for the Roxanne and Hackney bags, alongside a resurgence of the iconic Bayswater model.

Regional performance and market expansion

Mulberry reported a refocus on its domestic market, with UK retail and digital sales increasing by 3.5 percent and LFL sales up 6.5 percent. The group noted that full-price items represented a larger proportion of the online sales mix compared to the previous year, despite a challenging broader retail environment.

International markets delivered double-digit growth. Total sales in the USA rose by 12.7 percent, with LFL growth reaching 12.6 percent, Europe excluding the UK increased by 14.9 percent, while LFL sales surged by 27.2 percent and Asia Pacific sales grew by 0.8 percent despite ongoing store estate right-sizing. LFL sales in the region rose by 12.2 percent, supported by a strong performance during the Double 11 shopping festival in November 2025.

The group enters the final quarter of its financial year, covering January to March 2026, with positive momentum.