British lifestyle brand Mulberry Group has reported group revenue of £125.5m ($168m) for the fiscal year 2026 (FY26), up 4% compared to £120.4m a year ago, with growth picking up to 11% in the second half of the year.
For the 52 weeks ended 28 March 2026, like-for-like (LfL) revenue across retail and digital increased 9%, with the company reporting stronger momentum as the year progressed.
Gross margin improved to 72% from 67% in FY25.
The group reported pre-tax loss of £8.9m compared with a loss of £32.2m in the previous year.
Underlying pre-tax loss came to £8m, against an underlying pre-tax loss of £24.1m in FY25, representing an improvement of £16.1m.
Mulberry also reported positive underlying EBITDA [earnings before interest, taxes, depreciation and amortisation] of £800,000, compared with an underlying EBITDA loss of £16.8m a year earlier, an improvement of £17.6m.
Operating expenses fell 10% year-on-year (YoY) to £96.2m from £107.4m.
Commenting on the performance, Mulberry CEO Andrea Baldo said: "FY26 has been a year of meaningful progress as we continue to deliver our Back to the Mulberry Spirit strategy. Back in January 2025, I set out my immediate priorities to restore profitability, rebuild gross margin and invest in brand building initiatives, and I am pleased with the progress we have made against those objectives.
“We returned the business to growth, significantly reduced our losses and strengthened gross margin through greater full-price discipline. Momentum built throughout the year, with a particularly strong second half, demonstrating that the actions we have taken are delivering tangible results, including delivering positive underlying EBITDA for the year, on the path to creating shareholder value.”
The company said current-year trading had begun on a stronger footing, with the momentum seen in the second half of FY26 carrying into FY27.
Group revenue for the 13 weeks to 27 June 2026 was 23% above the same period last year.
Retail and digital revenue rose 18% YoY and was up 21% on a LfL basis, with all regions recording double-digit LfL growth, the company said in a statement.
