Far Fetched Sales Soar, Profits Plummet

Farfetch's (UK) soaring revenues came at a cost to profits. Net loss widened to $44 million compared with $36 million last year,  while revenue grew 74 percent to $198 million for the year ending December 31, 2017.

Operating loss was $32 million and loss on an EBITDA basis was down to $28.6 million compared to $30 million last year.

The company said that the value of goods sold on its online platform increased to around $720 million, while its gross merchandise value jumped almost 81 percent to $720.6 million last year.