For the fiscal year ending March 27, 2021, the apparel store reported an underlying pre-tax profit of £5.9 million. This is a significant improvement from the retailer’s pre-tax loss of £14.2 million the previous year.
Notably, Mulberry’s worldwide retail sales increased by 4% year on year to £33.8 million. While retail sales increased by 81% in China, they increased by 36% in South Korea. However, retail sales in the rest of the globe fell by 27%.
In terms of digital sales, the company experienced a whopping 55% increase to £56.4 million – up from £36 before.
Mulberry’s digital sales accounted for 49% of overall income last year. The Group’s revenue, on the other hand, fell by 23% to £115 million from £149.3 million in 2020. The drop was ascribed to lockdowns, which resulted in the closure of not only stores, but even industries at times.
