Evaluate the expected performance of Farfetch Limited (FTCH) for the quarter ended September 2023, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Partnership and macroeconomic news has helped the stock move higher. Shares are still off 97% from all-time highs.
Richemont labels are moving ahead with the transfer of their online businesses to Farfetch technology, which they are satisfied with, executives at the Swiss-based group said Friday. However, they declined to comment on the progress of a deal to transfer part of Richemont's wholly online YNAP fashion and accessories business to the U.S.-listed company. Richemont on Friday reported an additional 527 million euro write down on YNAP for the last six months, which it classifies as held for sale and said that YNAP sales were down 10% at constant rates over the period.