For Farfetch (FTCH), this Friday was a dream debut as the online luxury retailer saw itself valued at a whopping $5.8 billion. This also underlines how e-commerce has taken over the traditional retail methods – an undeniable truth that Amazon (AMZN) is proving time and again.
It needs to be noted that the 10-year old Farfetch site is home to a number of international high-end brands but carries no inventory — something the internet has gifted us.
On the NYSE on Friday, Farfetch shares were trading as high as 39% more than its IPO price at $20 a share. This was after the company raised its expected IPO price from the $17-$19 range.
With the IPO, the company looks to issue 33.6 million shares, with existing stockholders selling about 10.6 million. The IPO, thus, values the company at $5.8 billion. Including employee share options, this can be estimated to rise to $6.3 billion.
However, it would be amusing to note that Farfetch has yet to turn to profit, even as it posted a 59% jump in top line to $386 million the past year.
Most Popular
Important takeaways from Paychex’s (PAYX) Q2 2025 earnings report
Paychex Inc. (NASDAQ: PAYX), a leading provider of human resources and payroll services, reported better-than-expected revenue and profit for the second quarter of fiscal 2025, sending the stock higher soon
Lamb Weston’s (LW) challenges may not end soon, a few points to note
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) turned red in mid-day trade on Friday. The stock has dropped 19% in the past one month. The company delivered disappointing results
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
