Mulberry, Gear4music and Wickes report growth

Three very different retailers have reported growth, but their latest updates share a common theme. Mulberry, Gear4music and Wickes are investing in their businesses while focusing on products, service and customer value rather than relying heavily on discounting.

Mulberry turnaround builds momentum

Mulberry reported first-half sales growth of 18.1%, helped by demand across seasonal and core collections and newer ranges including Raffia, Crochet, Stevie and Darley Camera Bag.

Sales rose by 10% in the UK, 28% in the US, 23% in Europe and 5% in Asia.

The luxury handbag brand also increased the proportion of products sold at full price and reduced promotional activity compared with the previous year. This suggests customers are responding to its products and brand rather than simply lower prices.

Mulberry is now focused on rebuilding margins and restoring profitability. Its medium-term aim is to exceed £200 million in annual revenue and achieve a 15% adjusted EBIT margin.

Chief Executive Andrea Baldo pointed to stronger brand desirability, its product pipeline and growing customer engagement as reasons for confidence.

Gear4music invests for future growth

Gear4music reported first-half revenue of £85.4 million, up 6%. European and Rest of World revenue grew by 11%, while UK sales increased by 3%. Gross profit is expected to reach £23.6 million, up from £22.6 million.

EBITDA fell from £6.5 million to £5.7 million as the company faced start-up costs for its new automated UK warehouse.

That reflects the challenge of balancing short-term profit with investment intended to improve efficiency, scale and customer service.

Despite caution around discretionary spending, Gear4music remains confident about peak trading. It continues to invest in its ecommerce platform and operations.

Wickes grows through higher volumes

Wickes reported third-quarter revenue growth of 4.5%, with like-for-like sales up 4%.

Retail sales increased by 6%, helped by higher customer footfall and transaction volumes. TradePro sales grew by 8%, while active membership reached 684,000.

DIY demand remained resilient. Design & Installation had a tougher quarter, particularly in premium bespoke kitchens, where customers remained cautious about larger purchases.

Wickes continues to invest in new stores, refits and refreshes while focusing on attracting customers and increasing market share.

Across all three businesses, the message is similar. Strong products and customer propositions remain important. So does continued investment. Attracting more customers, encouraging repeat business and improving conversion can also provide stronger foundations for longer-term growth.

What RHR thinks

We believe these results show that retail is increasingly rewarding clear strategies and disciplined operations. Growth is becoming less reliant on heavy discounting and more dependent on strong products, distinctive customer experiences and efficient businesses. Retailers are investing across product, digital, operations and customer experience at the same time. This increases the need for commercially minded leaders who can manage change, support sustainable growth and build strong teams. Retailers that continue investing in both their capabilities and their people will be better placed to win market share and create long-term value.

What this means for hiring. The updates point to demand for commercially minded leaders, alongside roles supporting product, digital, ecommerce, operations and customer experience. Store roles are also relevant as Wickes continues to invest in openings, refits and refresh programmes.