Farfetch losses spiral despite sales gains

Farfetch 03

Farfetch has suffered widening losses during its third quarter despite a spike in sales.

The online luxury fashion business booked a loss after tax of $537m (£408m) during the three months to September 30. That compared with a loss of $90.5m (£68.9m) during the same period last year. 

Revenues during the quarter surged 71% to $438m (£333m), while gross merchandise value climbed 62% to a record high of $798m (£607m). 

On an adjusted EBITDA basis, Farfetch narrowed losses to $10.3m (£7.8m) from $35.7m (£27.1m) during the same quarter in 2019. 

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