Farfetch Postpones Capital Markets Day Previously Scheduled for March 12
March 06 2020 - 1:37PM
Business Wire
Due to increasingly restrictive travel and group event
guidelines put in place as a precaution relating to COVID-19,
Farfetch Limited (NYSE: FTCH), the leading global platform for the
luxury fashion industry, will postpone its Capital Markets Day,
which was due to take place on Thursday, March 12, 2020 in New
York, NY. The wellbeing of our people, investors, the Farfetch
community, and the general public is our top priority. We look
forward to continuing our dialogue with the investment community
and will announce a new date for the event as soon as
practicable.
As of today, the business continues to trade in line with our
expectations for first quarter 2020, and as explained in our
earnings report on February 27, 2020, we have not seen any material
impacts on our marketplace trading or our supply chain due to the
novel coronavirus. However, circumstances regarding the COVID-19
situation remain uncertain, and as such we are closely monitoring
the situation as it evolves.
Forward Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements contained in this release that do not relate to
matters of historical fact should be considered forward-looking
statements, including, without limitation, statements regarding our
expected financial performance and operational performance for the
first quarter of 2020, as well as statements that include the words
“expect,” “intend,” “plan,” “believe,” “project,” “forecast,”
“estimate,” “may,” “should,” “anticipate” and similar statements of
a future or forward-looking nature. These forward-looking
statements are based on management’s current expectations. These
statements are neither promises nor guarantees, but involve known
and unknown risks, uncertainties and other important factors that
may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements, including, but not limited to: purchasers of luxury
products may not choose to shop online in sufficient numbers; our
ability to generate sufficient revenue to be profitable or to
generate positive cash flow on a sustained basis; the volatility
and difficulty in predicting the luxury fashion industry; our
reliance on a limited number of retailers and brands for the supply
of products on our Marketplace; our reliance on retailers and
brands to anticipate, identify and respond quickly to new and
changing fashion trends, consumer preferences and other factors;
our reliance on retailers and brands to make products available to
our consumers on our Marketplace and to set their own prices for
such products; fluctuation in foreign exchange rates; our reliance
on information technologies and our ability to adapt to
technological developments; our ability to acquire or retain
consumers and to promote and sustain the Farfetch brand; our
ability or the ability of third parties to protect our sites,
networks and systems against security breaches, or otherwise to
protect our confidential information; our ability to successfully
launch and monetize new and innovative technology; our acquisition
and integration of other companies or technologies, for example,
Stadium Goods and New Guards, could divert management’s attention
and otherwise disrupt our operations and harm our operating
results; we may be unsuccessful in integrating any acquired
businesses or realizing any anticipated benefits of such
acquisitions; our dependence on highly skilled personnel, including
our senior management, data scientists and technology
professionals, and our ability to hire, retain and motivate
qualified personnel; impact of general economic factors, natural
disasters or other unexpected events, for example the outbreak of
COVID-19; José Neves, our chief executive officer, has considerable
influence over important corporate matters due to his ownership of
us, and our dual-class voting structure will limit your ability to
influence corporate matters, including a change of control; and the
other important factors discussed under the caption “Risk Factors”
in our Annual Report on Form 20-F filed with the U.S. Securities
and Exchange Commission (“SEC”) for the fiscal year ended December
31, 2018 and our Annual Report on Form 20-F for the fiscal year
ended December 31, 2019 to be filed with the SEC, as such factors
may be updated from time to time in our other filings with the SEC,
which are accessible on the SEC’s website at www.sec.gov and on our website at
http://farfetchinvestors.com. In addition, we operate in a very
competitive and rapidly changing environment. New risks emerge from
time to time. It is not possible for our management to predict all
risks, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statements that we may make. In light of these
risks, uncertainties and assumptions, the forward-looking events
and circumstances discussed in this release are inherently
uncertain and may not occur, and actual results could differ
materially and adversely from those anticipated or implied in the
forward-looking statements. Accordingly, you should not rely upon
forward-looking statements as predictions of future events. In
addition, the forward-looking statements made in this release
relate only to events or information as of the date on which the
statements are made in this release. Except as required by law, we
undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
About Farfetch
Farfetch Limited is the leading global platform for the luxury
fashion industry. Founded in 2007 by José Neves for the love of
fashion, and launched in 2008, Farfetch began as an e-commerce
marketplace for luxury boutiques around the world. Today the
Farfetch Marketplace connects customers in 190 countries with items
from more than 50 countries and over 1,200 of the world’s best
brands, boutiques and department stores, delivering a truly unique
shopping experience and access to the most extensive selection of
luxury on a single platform. Farfetch’s additional businesses
include Farfetch Platform Solutions, which services enterprise
clients with e-commerce and technology capabilities; Browns and
Stadium Goods, which offer luxury products to consumers; and New
Guards, a platform for the development of global fashion brands.
Farfetch also invests in innovations such as its Store of the
Future augmented retail solution, and develops key technologies,
business solutions, and services for the luxury fashion
industry.
For more information, please visit
www.farfetchinvestors.com.
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Investor Relations Contact:
Alice Ryder VP Investor Relations IR@farfetch.com
Media Contacts: Susannah
Clark VP Communications, Global susannah.clark@farfetch.com +44
7788 405224
Brunswick Group farfetch@brunswickgroup.com US: +1 (212) 333
3810 UK: +44 (0) 207 404 5959
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