Farfetch stock drops more than 20% as sales miss estimates

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Farfetch stock drops more than 20% as sales miss estimates
Farfetch stock drops more than 20 as sales miss estimates


Shares of Farfetch Ltd. dropped 22% in the extended session Thursday after the luxury fashion company missed sales expectations for its third quarter. Farfetch
FTCH,
+1.06%
said it earned $769 million, or basic per-share earnings of $2.09, in the quarter, swinging from a loss of $537 million, or $1.58 a share, in the year-ago quarter. Adjusted for one-time items, the company lost 14 cents a share.



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