Farfetch to skip scheduled earnings amid going-private reports

Luxury fashion e-commerce company Farfetch Ltd. (FTCH) said late Tuesday it won't announce its third-quarter financial results on Wednesday as scheduled, saying only it will provide a "market update in due course." Shares of Farfetch rose 15% in the extended session after a 22% jump in the regular session. Earlier Tuesday, the Telegraph reported that the company's founder Jose Neves was considering taking the company private and was in talks with top shareholders. Farfetch, which became public in 2018 and rode a wave of larger online sales during the pandemic, also said Tuesday that it won't provide guidance, and that any previous "forecasts or guidance should no longer be relied upon." Farfetch in August reported weaker-than-expected results for its second quarter. At that time, the company called for revenue of approximately $2.5 billion for this year, up from $2.3 billion in 2022.

-Claudia Assis

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

11-28-23 1725ET

Copyright (c) 2023 Dow Jones & Company, Inc.