Farfetch Limited (FTCH), an online retailer specializing in the sale of luxury products, is currently trading close to 52-week highs, having risen by more than 467 percent since the start of the year.
3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
News coming from the firm has been the engine of Farfetch’s stock gains in recent weeks. That was first of all, a good quarterly report, as well as a news about its cooperation with Chinese tech giant Alibaba (BABA).
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .
The main business of Farfetch is to offer luxury items, including clothes and accessories, online. In 50 countries, the organization sells goods from more than 1,000 boutiques. Connection to the Farfetch service is open to clients in 190 countries. Moreover the organization has Browns boutiques offline.
For buyers and sellers, Farfetch provides services. There are virtual storefronts for retailers, as well as inventory and logistics management software, activity monitoring systems, etc. Monetization is carried out by charging sellers of products a commission of 25-33 percent.
Farfetch announced collaboration with the Alibaba platform in early November. According to Farfetch, the largest e-commerce site Richemont, the owner of Cartier brands, is investing around $300 million in the retailer. The deal cements the reputation of Farfetch as a leading online marketplace for the sale of luxury items.
The total amount of products sold on the platform rose by 62 percent year on year in the third quarter. It is interesting that this took place against the backdrop of how many mass clothing retailers faced a drop in revenue. The third-quarter profits of Farfetch rose 71 percent to $438 million, well ahead of Wall Street’s $367 million estimate.
Farfetch expects the total amount of goods sold to rise by 40-45 percent to $880-$910 million in the fourth quarter. It is expected that the adjusted EBTIDA will be more optimistic.
Farfetch Limited (FTCH) share was worth $58.70 at ring of the bell on Tuesday.