LONDON— Profits at Mulberry Group dropped 26 percent to 18.7 million pounds, or $29.5 million, in the year ended March 31, on the back of broadly flat sales and costs related to new store openings and a contraction in gross margin.
As reported, sales in the period dipped 2 percent to 165.1 million pounds, or $260.9 million, with retail revenue up 8 percent and wholesale revenue down 16 percent, as the company pursues a strategy of opening directly-operated stores and culling certain wholesale accounts.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"