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Mulberry expected to make £1m loss

Mulberry is expected to slump to a £1m loss in its first-half results as it loses its creative edge.

The luxury handbag business will report its first-half results later this week and analysts at Barclays are forecasting a £1m loss, according to The Sunday Times. That compares with a £7.2m pre-tax profit for the same period last year.

The news follows three profit warnings from the Somerset-based retailer earlier this year.

Mulberry is pinning its revival hopes on new creative director Johnny Coca, who will join the retailer on July 8 from Céline, where he was accessories designer.

In October Mulberry reported revenues were down 17% to £64.7m in the six months to September 30.

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