Online luxury and fashion marketplace Farfetch is going through a rough patch. First it publishes third-quarter figures on Thursday that fall short of analysts’ expectations and downgrades yet again its outlook for the year. Then, it tells investors they will have to be patient as the company is going to lose money at least until next year.
In the spring, the target was to break even by Christmas. Now it warns that things are going to get worse before they get better and it has to take out a loan to fund operations. “The next two-three quarters are going to be challenging,” Chief Financial Officer Elliot Jordan told investors in a conference call.
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