Mulberry is set to fall into the red, the luxury handbag maker said on Tuesday as it warned coronavirus has “severely” hit trading.
The AIM-listed accessories firm had expected to be profitable in the second half to March 28, but it is now forecasting a “small loss”.
Mulberry, which closed its UK shops on March 21, cautioned: “Given the rapidly evolving nature of the situation, it is not possible to provide meaningful guidance on the company's future performance.”
In the run up to March 21, a number of retailers and restaurants saw plunging footfall in London as travel restrictions came in. Mulberry said recent trading in its stores, particularly in the UK, has been severely impacted by the Covid-19 crisis. It has a number of London branches including on New Bond Street and Regent Street.
The high-end retailer has suspended dividend payments.
Chief executive Thierry Andretta said he remains “confident in the strength of our brand, and in our strategy over the long term".
