UK-based luxury goods retailer Mulberry does not appear to be escaping the financial turmoil that has hit manufacturers and retailers across the globe.

Like-for-like sales during the ten weeks to December 6 have fallen 12% year-on-year. However, sales for the first half were up 5% in terms of like-for-like sales.
 

The company’s chairman and CEO, Godfrey Davis, said in a statement that: Since September, the global economic environment has become significantly more difficult.”

The company, which was seriously affected by the collapse of US bank Lehman Brothers, now believes that annual performance will not match last year’s. Despite this, it claims its spring order book is up 15% compared with last year’s.

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