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Acquire Licensing Rights Branding for online fashion house Farfetch is seen at the company headquarters in London, Britain January 31, 2018. REUTERS/Toby Melville Aug 18 (Reuters) – Shares of Farfetch (FTCH.N) slumped nearly 40% to a record low on Friday, as choppy demand in the online luxury goods retailer’s top two markets, the United States and China, drove a gloomy annual sales outlook.

Farfetch also missed revenue estimates in what analysts called a “very disappointing” second-quarter earnings report, taking a hit from retailers cutting back on orders for the fall and winter seasons due to leftover inventories.

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By Donato