Mulberry's stock loses 33% value today. It has begun.

[Denzark]

Wolfy, I'm all about the bush, but where do I find this mythical Mulberry?

[Wolfshade]

FLBS (friendly local bag store), they are a good place, can talk you through it, show you the basics, possibly show you some alternatives. Or you can go to a Mulberry store, but that is more sale focused and only sells Mulberry though.

[Wolfshade]

Oooh, the CEO is gone!

MULBERRY GROUP PLC

Board Changes

Mulberry Group plc, the English luxury brand, today announces that Bruno Guillon has advised the Board of his intention to step down as CEO of Mulberry with immediate effect. Godfrey Davis, who is currently non-executive Chairman and was previously CEO, will become Executive Chairman until a successor is found.

Commenting on Mr Guillon's resignation, Godfrey Davis said:

"I, along with the Board, would like to thank Bruno for his hard work over the past two years. He has helped improve the quality of the Mulberry offering and enabled the company to increase its international appeal and grown international retail sales. I am confident that Mulberry has the heritage, brand appeal and products to build on what has been achieved."

Enquiries:
Pelham Bell Pottinger (Gavin Davis / Dan de Belder) 0207 861 3232
Altium (Ben Thorne / Katherine Hobbs) 0207 484 4040
Barclays (Marcus Jackson / Nicola Tennent) 0203 623 2323

[Cap'nSmurfs]

But if they make bags, why are they called Mulberry?

[Wolfshade]

Roger Saul established the business in Somerset in 1971 using £500 he received on his birthday. He named the brand after the Mulberry tree that he walked past each day in the grounds of his school

[url]http://www.mulberry.com/explore/about-us[/url]

[Deadlift]

But if they make bags, why are they called Mulberry?

The logo of the bag is a Mulberry bush.

Wife bought a bag a few weeks ago. She got one of those idiotically high bonuses bankers get and added another to her handbag collection. Four figures were talking here and she moans about GW prices

[Cap'nSmurfs]

Did that one just go over people's heads, or are you guys being deliberately obtuse

[Wolfshade]

Did that one just go over people's heads, or are you guys being deliberately obtuse

I see all

[url]http://www.lounge.belloflostsouls.net/showthread.php?42934-Why-does-GW-call-itself-Games-Workshop-and-other-favourite-questions[/url]

[Wolfshade]

So Mulberry must have seen the results of our little poll and having issued another profit warning have issued this statement:

Following the recent change in management, we are focussing on achieving sales growth through the reinforcement of our product offering at more affordable prices to meet the expectations of our loyal customers.

This will have a short term consequence but is necessary to ensure the future strength of the Mulberry brand.

So there we have it 2 profit warnings, one leaving CEO and a dilution of the brand from "high" (read: expensive) fashion to things more affordable.

Interesting days.

Though interestingly, the stock did not take a nose dive from this latest warning and has recovered some of it's initial 33% fall and is now trading at about 20% pre-profit warning levels.