SWIP's Clunie may double short position as Mulberry falls 25%

SWIP's James Clunie is considering doubling the size of his short position in battered luxury brand provider Mulberry on the belief the stock could see further weakness.

Clunie (pictured), who manages the £36m SWIP UK Flexible Strategy fund, is conflicted over what to do with his short on the luxury goods manufacturer, which saw its value fall by over 25% yesterday. Mulberry had already fallen in value from £25 to around £15 from May to July earlier this year, but a shock profits warning today sent the stock tumbling to under £10. The share price closed down 28% at £9.25 yesterday, before opening up 4% this morning. The company blamed cautious wholesale buying in Asia as one of the factors, along with its decision to reduce selling to less upmarke...