To The Moon

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Farfetch’s year-on-year sales decline continued in the final quarter of 2022 as the luxury e-commerce firm faced sustained geographic challenges in Russia and China. But the company expects new partnerships will help sales grow more than 10 percent in 2023, and reach as high as $10 billion by 2025.The shares jumped 8% in morning trading Friday.In the fourth quarter of 2022, gross merchandise value — a measure of goods primarily sold through its online luxury marketplace — dropped nearly 12 percent year-over-year to $1.1 billion. Revenue also fell 5 percent to $629 million during the same period. (Farfetch posted its first sales drop as a public company in the third quarter of 2022). The strong dollar played a role in the decline — GMV would have risen 2 percent for