Why Farfetch Is a Top Global E-Commerce Stock
With the sell-off in high-flying tech stocks in recent weeks, paying a company like Farfetch (NYSE: FTCH) some attention hasn't been popular. Share prices of the luxury e-commerce platform are down some 25% from all-time highs as of this writing -- this in spite of a solid conclusion to 2020 and the company reporting it turned profitable on an adjusted basis for the first time. With more good things on the horizon for Farfetch, I think this top high-end goods e-commerce platform is worth a look.
Luxury sales are nearly a $300 billion-a-year industry, but historically one highly reliant on in-person sales. Given the state of affairs, suffice it to say some e-commerce updating was in need here -- and Farfetch was ready. It capped off a huge year with a reported 43% year-over-year increase in gross merchandise value (GMV) sold in the fourth quarter to $1.06 billion. The resulting revenue was $540 million, a 41% increase.
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Source Fool.com
