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Farfetch tumbles after providing new outlook at investor event

Farfetch Limited (NYSE:FTCH) fell sharply on Thursday after issuing a guidance update as part of its Capital Markets Day event.

For FY23, Farfetch (FTCH) sees gross merchandise value being up 20% to 22% to $4.9B. This is expected to be driven by growth of the underlying business of 8% to 10% and GMV from signed partnerships of approximately $500M. Adjusted EBITDA margin of 1% to 3% is anticipated as well.

For FY25, Fafetch (FTCH) expects to deliver GMV of approximately $10B across its business pillars for full-year 2025 and guided for adjusted revenue of around $3.5B.

Shares of Farfetch (FTCH) were down 19.95% at 10:56 a.m. on Thursday as investors showed disappointment over the forecasts. FTCH management is still due to present more details on its strategy and business trends at the Capital Markets Day event.

Farfetch (FTCH) was listed on Seeking Alpha's Catalyst Watch this week as setting up for a potential share price jolt.