MUL Mulberry Group Plc

 

TIDMMUL 
 
RNS Number : 3783M 
Mulberry Group PLC 
24 May 2010 
 

Mulberry Group plc - Property transactions 
 
Mulberry Group plc ("Mulberry" or the "Group"), the luxury British fashion house 
specialising in the design, manufacture and sale of leather goods and 
accessories, announces two property transactions. 
 
New Bond Street store 
 
Mulberry has recently signed a lease for a new flagship store at 50 New Bond 
Street.  The store will have 5,400 square foot of retail space at ground floor 
level which will enable a much stronger and more coherent presentation of the 
entire Mulberry product range than is currently possible in the existing split 
level New Bond Street premises.  The lease is for 25 years at an initial rental 
of GBP1.4m per annum. 
 
The new store is planned to open during December 2010, at which time the 
existing store at 41/42 New Bond Street will close.  The closure of the old 
store will give rise to a one-off exceptional impairment charge of GBP1.1m which 
will be recorded in the accounts for the year ended 31st March 2010. 
 
New London head office and showroom 
 
As indicated within the announcement dated 18th June 2009, Mulberry has been 
searching for new office and showroom premises in London to consolidate its 
existing facilities into a single location and cater for future expansion. 
Terms are being agreed for a 36,000 square foot space that will accommodate all 
London based departments and showrooms.  It is expected that contracts will be 
exchanged within the next few weeks.  The Shepherd's Bush and New Bond Street 
office leases will be disposed of in due course. 
 
Trading continues to be strong and, before the exceptional charge explained 
above, results for the year to 31st March 2010 will be in line with market 
expectations. 
 
These property transactions reflect the continued process of investing the 
significant profit and cash being generated by the Group in creating a platform 
for future growth. 
 
Enquiries: 
 
+-------------------------------+-------------------------------+ 
| Pelham Bell Pottinger         | Tel: +44 (0) 20 7861 3874     | 
+-------------------------------+-------------------------------+ 
| Kate Catchpole / Lucy         |                               | 
| Frankland                     |                               | 
+-------------------------------+-------------------------------+ 
| Altium Capital                | Tel: +44 (0) 20 7484 4040     | 
+-------------------------------+-------------------------------+ 
| Ben Thorne / Melanie          |                               | 
| Szalkiewicz                   |                               | 
+-------------------------------+-------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCEASSFASDEEFF 
 

Mulberry (LSE:MUL)
Historical Stock Chart
From Jun 2024 to Jul 2024

Mulberry (LSE:MUL)
Historical Stock Chart
From Jul 2023 to Jul 2024