Seeking Alpha

More on Vipshop Q3 results, guidance

  • Vipshop (VIPS) Q3 revenue skyrocketed 146.1% Y/Y to $383.7M on the back of a 131.7% jump in active customers to 4M and a 115.6% increase in total orders to 11.7M.
  • Gross margin expanded to 24.3% from 22.3% in Q3 2012.
  • Fulfillment expenses grew 103.2% to $44.1M, marketing expenses +137.7% to $17.4M, technology and content expenses +199.1% to $9.6M, and G&A +88.5% to $11.9M.
  • Management guides for Q4 revenue of $580M-$590M (vs. consensus of $532.6M), representing a Y/Y growth rate of 94%-97%.
  • PR, Conference call at 8 am ET tomorrow
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