Is It Time To Buy This Beaten-Down E-Commerce Stock?
Retail stocks are getting blasted this year, especially those specializing in e-commerce, as the global consumer returns to in-person shopping experiences after a couple years of heavy online activity. Farfetch (NYSE: FTCH) is among them. The online luxury platform's growth has slowed this year, and shares are down some 87% from all-time highs reached in 2021.
This leader in online fashion has been busy, though, and recently concocted a big deal that could be a game-changer in the next few years. Is it time to buy Farfetch?
As has been the case with all multinational companies this year, Farfetch's financial results are getting clobbered by a historic run in the U.S. dollar. Total revenue in Q2 2022 was up 10.7% year-over-year, but excluding the effects of the dollar's strength versus most other currencies, revenue would have risen 20.7%. Ouch!
Source Fool.com
