Farfetch Soars After Pact to Help Harrods Woo Online Shoppers
- The partnership will likely lead to more business, BI says
- Stock an ‘attractive opportunity,’ Cowen says before results
Harrods luxury department store in London.
Photographer: Jason Alden/Bloomberg
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Farfetch Ltd. shares advanced for a third straight session and hit their highest levels of the year following an e-commerce pact with London-based luxury department store Harrods that may lead to more business from elite retailers.
The stock gained as much as 9.4 percent and traded at its highest level since mid-December. Shares of the online retail apparel company have gained more than 20 percent over the past three sessions.