Mulberry sees strong festive sales

Luxury fashion company Mulberry Group expects 2012 financial year results to exceed its earlier forecast, led by strong Christmas and New Year sales, putting it firmly in the festive winners' camp in the UK.

The company, which designs, makes and sells leather goods and accessories, said retail sales for the 16 weeks to January 14 rose 30 per cent, while like-for-like retail revenue was up 25 percent.

"Wholesale orders for Spring/Summer 2012 are currently up 35 per cent compared to the Spring/Summer 2011 end of season total with more than two months of the selling season remaining," Mulberry said in a statement on Thursday.

Luxury goods shares have wobbled in recent months amid signs of a slowdown in economic growth in China, the engine of recent strong demand for high-end goods, and fears the euro zone debt crisis could drag the world back into recession.

On Tuesday, Burberry Group reported a sharp slowdown in U.S. sales growth as it chose to cut back supplies for department stores to sell through their discount outlets.

Mulberry shares, which have fallen 15 percent in the last six months, closed at 1478 pence on Wednesday on the London Stock Exchange, valuing the company at 870 million pounds