Farfetch Stock Prices Surge After Announcing Strong Q4 Expectations

Third-quarter losses were also narrower than expected.

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farfetch online fashion retailer stock prices surge increase financial report
Donato Sardella/Getty Images For Farfetch
Fashion
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Online fashion retail giant Farfetch saw its stock prices surge by 15 percent over an extended session on Thursday after the company announced its third-quarter financial report. The company announced a narrower-than-expected loss of $85.5 million USD, or 28 cents per share, in the third quarter of 2019, compared to a loss of 30 cents per share ($77.2 million USD) in the same quarter last year.

More optimistically, revenues increased from $134.5 million USD in Q3 of 2018 to $255.5 million USD this quarter. For even better news, Farfetch expects a loss of only between $21 million USD to $31 million USD in the final quarter of the year. According to its Chief Executive Jose Neves, “We had a fantastic Q3, beating all our expectations, and continuing to capture market share at a rapid pace.”

Those with stocks in the company should definitely keep an eye out for its fourth-quarter finances with the holiday season coming up.

For more fashion news, UNDERCOVER has launched a new “UNDERCOVER NOISE LAB” line.

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