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Why Farfetch Stock Was Climbing Today

·2 min read
Why Farfetch Stock Was Climbing Today
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Shares of Farfetch (NYSE: FTCH) were climbing today after the luxury fashion online marketplace breezed past estimates in its first-quarter earnings report. The e-commerce fashion company has seen strong growth during the pandemic. GMV in the digital platform, which represents the core of the business, grew 60% to $790 million, and contribution margin in the category improved 100 basis points to 33%.