Online Fashion Retailer Farfetch Outpaces Online Luxury Sector
- 39% increase in revenue for Q1 2019
- Revenue increased to $174.1m from $125.6m YoY
- Platform services revenue grew by 43.2% to $141.8m
- Platform fulfilment revenue up 22.9% to $27.7m
- In-store revenue increased by 12.8% to $4.5m
- Adjusted EBITDA loss increased by $6.6m (27.8%)
- Adjusted EBITDA margin improved from 22.9% to 20.7%
- CEO José Neves: ‘Excellent growth, outpacing online luxury sector’
- CFO Elliot Jordan: ‘Strong start to the year, enabling future growth’
Online fashion retailer Farfetch has reported a 39% increase in revenue for the first quarter of 2019, ending March 31st. Revenues increased from $125.6m (£97.8m) in Q1 2018 to $174.1m (£135.6m) in 2019. The growth was primarily driven by a 43.2% increase in platform services revenue to $141.8m (£110.4m), a 22.9% rise in platform fulfilment revenue to $27.7m ($21.5m), and a 12.8% increase in in-store revenue to $4.5m ($3.5m). Additionally, the adjusted EBITDA loss increased by $6.6m (£5.1m) or 27.8%, year-over-year in Q1 2019, reaching $30.2m ($23.5m. The adjusted EBITDA margin also improved from 22.9% to 20.7%. Farfetch’s CEO José Neves stated, ‘Excellent growth in Q1 2019, outpacing the online luxury sector as we continued to gain market share.’ CFO Elliot Jordan added, ‘Strong start to the year, enabling future growth through investment in customer engagement and platform development.’
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Farfetch’s financial performance for the first quarter of 2019, including revenue growth, breakdown by different categories, and quotes from company executives that support the positive outlook on future growth.
Noise Level: 2
Noise Justification: The article provides relevant information about Farfetch’s financial performance and the CEO’s and CFO’s comments on the company’s growth. It stays on topic and supports its claims with specific revenue figures.
Financial Relevance: Yes
Financial Markets Impacted: Farfetch’s stock price may be impacted by the positive financial results.
Financial Rating Justification: The article discusses Farfetch’s financial performance, including revenue growth and adjusted EBITDA, which are relevant to investors and can potentially affect the company’s stock price.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text.
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