Mulberry 's (MUL) shares slumped 21 per cent to 1,040p after the designer handbag maker revealed a disappointing performance in the half-year to end-September.
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Like-for-like retail sales did rise 7 per cent on the same period last year - but that's still well down on the 47 per cent underlying sales hike seen a year earlier. Wholesale revenues, meanwhile, dropped 4 per cent. Worryingly, a key reason for that weak wholesale performance was "a more challenging environment in Asia" - previously a growth engine for luxury goods players. In retail, too, management said that the international side "had not met expectations".
Broker Espirito Santo expects current consensus pre-tax profit estimates of about £43m to be cut back by 16 per cent.
