friday trading: The stock has tumbled 39% over the year to date while the Amplify Online Retail ETF IBUY, -0.83% has gained 25.2% and the S&P 500 index SPX, -0.66% has rallied 16.3%. Farfetch reported wider-than-expected second-quarter losses and announced the 675 million acquisition of New Guards Group, a platform that has launched a number of luxury brands, including Off White and Palm Angels, according to Market Watch. Off White is already one of the top 10 most popular brands on Farfetch, according to the announcement. Farfetch FTCH, -44.49% shares were down 41.3% in Friday trading, en route to the biggest one-day percentage decline since the company began trading in September 2018. Read Sears to start liquidation sales at these 26 stores next week The acquisition allows the company to add a brand platform to its existing platforms technology, data and logistics, said Jos Manuel Ferreira Neves, Farfetch's chief executive, on the earnings call, according to Fact Set. This is the latest in a string of acquisitions for Farfetch over the past year including Stadium Goods in December 2012 and Toplife in February. Neves said Farfetch plans to relaunch the Off White website on its site in the fourth quarter, including in China.
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