The group's revenue for fiscal year 2026 (FY26) rose 4 percent year-on-year (YoY) to £125.5 million (~$168 million), with growth accelerating to 11 percent in the second half. Gross profit increased 12 percent to £90.2 million (~$120.87 million), and gross margin improved from 66.8 percent to 71.9 percent.
“FY26 has been a year of significant progress as we continue to implement our Back to the Mulberry Spirit strategy,” he said Andrea Baldo, CEO of Mulberry Group.
Mulberry Group posted revenue growth of 4 per cent to £125.5 million (~$168 million) in FY26, while gross profit rose 12 per cent to £90.2 million (~$120.9 million) as gross margin improved to 71.9 per cent. Strong second half momentum, driven by its 'Back to Mulberry Spirit' strategy, helped reduce losses, deliver positive underlying EBITDA and support a strong start to FY27.
“We returned growth to the business, significantly reduced our losses and strengthened gross margin through greater full pricing discipline. Momentum built throughout the year, with a particularly strong second half, demonstrating that the actions we have taken are generating tangible results, including positive underlying EBITDA for the year, on the path to creating value for shareholders,” Baldo added.
Basic and diluted loss per share improved to 13p from 50.4p a year earlier, Mulberry said in a press release.
Regional Performance: Europe and Wholesale Leadership Gains
Comparable retail and digital revenue rose 9 per cent, with more than half of UK retail and digital sales coming from returning customers.
UK retail revenue was flat year-on-year, but brick-and-mortar sales rose 4 per cent and 19 per cent on a like-for-like basis, driven by new product launches and improving stock availability. UK digital revenue declined 8 per cent, reflecting lower promotional activity.
European retail revenue increased 21 percent (28 percent like-for-like), led by strong performances in Ireland and Sweden, while European digital revenue increased 33 percent. In the United States, revenue grew 6 percent (9 percent comparable), and digital sales increased 8 percent comparable.
Asia Pacific retail revenue fell 6 percent due to store closures, but rose 4 percent on a like-for-like basis, with Australia and North Asia showing double-digit growth. Franchise and wholesale revenue rose 33 per cent to £14.6 million, supported by new partnerships in the UK with John Lewis, Liberty, Flannels and Harvey Nichols.
Mulberry posts double-digit sales growth in second half
For the second half (H2) of FY26, it reported sales growth of 13.6 per cent, reflecting strong momentum from its 'Back to Mulberry Spirit' strategy. All major markets recorded positive like-for-like sales growth, including the UK (+13.7 percent), the US (+20.1 percent), the EU excluding the UK (+37.8 percent) and Asia Pacific (+20.8 percent).
Positive start to FY27, medium-term objectives reaffirmed
Trading in the first 13 weeks of FY27 started strongly, with group revenue up 23 per cent year-on-year and retail and digital revenue up 18 per cent, the statement added. All regions recorded double-digit comparable growth except Asia Pacific, which saw a comparable increase of 32 percent despite a decline in reported sales. Franchise and wholesale revenue increased 56 percent.
Mulberry remains focused on rebuilding gross margin and restoring profitability, with the medium-term goal of exceeding £200 million in annual revenue and achieving an adjusted EBIT margin of 15 percent. The company expects to maintain positive momentum, supported by a stronger product offering, brand campaigns and continued cost discipline.
Fiber2Fashion News Desk
