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.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .
Sponsored
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).
A Backdoor Way To Profit From Today’s Crypto Bull Market
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. .
Sponsored
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.
