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Mulberry sales tumble after ill-fated upmarket drive

Clemens Bilan | Getty Images

English luxury handbag maker Mulberry's like-for-like retail sales fell 15 percent in the 10 weeks to June 7, it said on Thursday, after an ill-fated upmarket drive, now being reversed, took its toll on demand.

The brand, associated with its signature postman's lock inspired by the catch on an English postman's satchel, posted a pre-tax profit of 14 million pounds ($23.5 million) for its fiscal year to March 31, down from 26 million the previous year.

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