Mulberry Shares Drop 30%, Profits to be Hit by House of Fraser
4 monthes ago - By WWD
LONDON - Mulberry said Monday that its profits would be hit by House of Fraser's collapse and saw its shares plummet 30 percent as a result.
The luxury handbag company issued a trading update after House of Fraser, in which it operates 21 concessions, entered into administration on Aug. 10. Mulberry said it expects to spend 3 million pounds for exceptional costs in the results for the six months ended Sept. 30.
The company's share price declined to 4.85 pounds at 10:30 a.m. GMT on Monday.
“Since the group reported in June 2018, the U.K. market has continued to remain challenging and sales...
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Mulberry warns HoF administration could hit profits
4 monthes ago - By Drapers
Luxury accessory brand Mulberry has warned the collapse of ailing department store House of Fraser could result in a ”material reduction” in its full-year profits.
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