Mulberry cuts losses by £23m as sales rebound

Mulberry has dramatically narrowed its annual losses as higher sales, reduced discounting and tight cost control boosted its turnaround efforts.
The luxury retailer’s reported pre-tax loss fell to £8.9m in the 52 weeks to 28 March, compared with a restated £32.2m loss the previous year.
Underlying pre-tax losses narrowed to £8m from £24.1m, while the business posted positive underlying EBITDA of £800,000, against a £16.8m loss last year.
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