Mulberry Group PLC (LON:MUL) jumped as it said it is “appropriate” to suspend dividends until further notice.
The fashion designer has warned it expects a “small loss” in the second half to 28 March though it had previously guided for profits.
READ: Mike Ashley’s Frasers clutches stake in handbag maker Mulberry
The handbag maker added it is not possible to provide “meaningful” guidance on its future performance at this stage of the coronavirus outbreak.
The AIM-listed firm shuttered all UK stores on 21 March and is reviewing the international estate “on a case by case basis”.
As of last week, net cash was £8.8mln with £19mln of undrawn bank facilities.
Mulberry added it has a “supportive” majority shareholder.
Shares jumped 11% to 147.22p on Tuesday morning.
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