Why Is Mulberry Group plc Up on 11 Nov 2026?

Mulberry Group plc shares rose 15.88% on 11 Nov 2026, with LSE:MUL among the notable gainers. The move follows the company's interim trading update, which reported an 18% increase in sales for the 26 weeks to 26 September 2026.

Growth was the same at constant currency, and like-for-like sales increased in every major region: 9% in the UK, 34% in the US, 21% in the rest of Europe and 24% in Asia Pacific.

Management said the company avoided discounting and delivered healthy full-price sales, which supported gross margin.

About Mulberry Group plc

Mulberry is a Somerset-based British luxury handbag and accessories brand. It sells through its own stores, digital channels and wholesale partners across the UK, Europe, North America and Asia Pacific.

The brand's combination of British craftsmanship and international distribution is central to the Investment case for LSE:MUL, and its current priorities are rebuilding gross Margin and restoring profitability.

Sales Growth Across Regions

US like-for-like sales rose 34%, supported by higher customer demand, good digital performance, the launch of Bloomingdale's Marketplace and a wider wholesale presence.

Europe outside the UK grew 21%, Asia Pacific rose 24% and the UK increased 9%, showing broad-based Demand across seasonal and core collections.

Lower Reliance on Promotions

Excluding markdowns, promotional sales were 300 basis points lower as a share of sales than a year earlier.

A greater mix of full-price sales can support gross margin, which is a key part of the company's turnaround plan.

Medium-Term Targets

Mulberry has set medium-term ambitions of annual Revenue above £200 million and an adjusted EBIT margin of 15%.

The interim update indicates progress on customer engagement and product pipeline as the group works towards these goals.

Brand Heritage and Craftsmanship

Mulberry was founded in 1971 and remains closely associated with Somerset craftsmanship. Styles such as the Bayswater and the Alexa have become recognisable names in British luxury accessories.

That heritage supports the brand's positioning with international customers, who increasingly look for quality, provenance and design identity in luxury goods.

Leadership and Outlook

Chief Executive Andrea Baldo said the company was very pleased with progress in the half and called the growth in full-price sales particularly encouraging.

The group entered the second half with higher customer engagement and a solid product pipeline, while describing the macro environment as challenging.

Digital and Wholesale Channels

The US performance was helped by digital activity and a wider wholesale presence, including the launch of Bloomingdale's Marketplace.

Expanding the number of routes to customers allows Mulberry to reach new audiences while continuing to build its own stores and online channels.

Business Overview and Financial Performance

Mulberry's interim trading update reported 18% sales growth for the 26 weeks to 26 September 2026, with constant-currency growth the same. The company is working towards medium-term targets of annual revenue above £200 million and a 15% adjusted EBIT margin.

The latest update points to the benefits of its strategic turnaround, including selling more products at full price.

Strategy: Margin First

The company has made gross margin and profitability the main priorities. Selling fewer products at a discount and building demand for core and seasonal collections are central to that plan.

The Bloomingdale's Marketplace launch and wider wholesale presence in the US add reach without relying on heavy promotions.

Understanding the Update

Like-for-like sales compare stores and channels that were open in both periods, which makes the growth figures a useful guide to underlying demand.

Because the 18% increase was matched at constant currency, exchange rates did not account for the gain, and the growth in all four regions suggests customer interest is broad.

What Investors Tend to Follow

Consumer-facing companies are often followed through sales trends, Brand strength and the pace of customer demand. Updates on like-for-like sales, online growth, pricing and product launches help investors understand how a Business is performing across seasons.

Key Factors to Monitor

The next key date is the half-year results, scheduled for 19 November.

Investors may follow gross margin progress, trading in the key Christmas period, US wholesale expansion and the pace of progress towards the medium-term targets.

Conclusion

Mulberry Group plc's 15.88% rise on 11 Nov 2026 follows an interim update showing 18% sales growth and a lower promotional mix.

With regional growth led by the US and a focus on full-price selling, LSE:MUL has momentum heading into the half-year results on 19 November. Margin progress and holiday-period trading are likely to be the next areas of interest.