Mulberry returns to growth as losses narrow

Mulberry reports a continued turnaround, with FY26 revenue up 4% to £125.5m, margins improving to 72% and losses narrowing to £8.9m while underlying EBITDA becomes positive as the Back to the Mulberry Spirit strategy gains traction. In Q1 FY27, momentum continues with revenue up about 23% and double-digit LFL growth across most regions, and the company targets annual revenue above £200m and around 15% EBIT margin, supported by new product launches, stronger customer retention, and financing extending facilities to 2028.