Mulberry Surplus And Losses In The First Half Of Last Year

Mulberry Group PLC (MUL.L), the UK's high-end leather goods manufacturer, is expected to wait until July to usher in the new CEO.

At the end of last year, Mulberry Group PLC hired Johnny Coca Coca, the design director of leather goods, footwear, hardware, jewelry and sunglasses from C line. Brand creative director The Emma Hill, the creative director who succeeded the resignation in 2013, will only be formally recruited in July 8th. Reuters quoted the news that Mulberry Group PLC will announce the appointment of the new CEO at the same time, a year and a half away from the former CEO Bruno Guillon.

Bruno Guillon in March 2012, from the Herm s s International SCA (HRMS.PA) Hermes International Group joined Mulberry Group PLC two years later, it applied the strategy of high price and high-end positioning to the "affordable" route, so that the group issued a three profit warning. During its stay, the stock price fell 68%, and the market value evaporated.

When Bruno Guillon announced its resignation in March 2014 and entered into force immediately, Godfrey Davis, chief executive officer and non executive chairman of Mulberry Group PLC, returned to work as executive chairman until the chief executive was elected. It is reported that Godfrey Davis will retire to the non executive chairman when the new chief executive and creative director are recruited, but will be more involved in group governance to ensure that the new management can effectively implement the recovery route.

In the first half of September 30, 2014, Mulberry Group PLC has lost a net loss of 1 million 110 thousand from profit to loss, compared with a pre tax profit of 7 million 227 thousand pounds in the same period last year. Revenue fell by 17% to 64 million 700 thousand pounds, of which retail channel revenue fell 9%, and international market growth was partly offset by a fall in UK sales. Among them, the UK's full store sales fell by 12% due to the drop in tourist flow, and the discount store sales were due to high inventory levels. Clean up stock And plummeted by 23%. Gross profit margin fell 310 basis points during the period from 63% in the same period last year to 59.9%. The group said it was mainly due to investment in new factories.

Godfrey Davis said that its performance was in line with the expectations issued by surplus police. It said that after two years of hardship, the group would work hard to recover and demonstrate its determination through the appointment of Johnny Coca.