Vipshop (VIPS) expects Q2 revenue of $780M-$790M, far above a $685.6M consensus and good for 118% Y/Y growth at the midpoint.
Gross margin rose 40 bps Q/Q and 150 bps Y/Y to 24.9%. Opex rose 115% Y/Y (compares with rev. growth of 125.9%), thanks to 97.8%, 129%, 134.8%, and 146.1% respective increases in fulfillment, marketing, tech/content, and G&A spend.
Active customers rose by 1.7M Q/Q and 5.6M Y/Y to 7.4M. Total orders rose by 2.5M Q/Q and 11.4M Y/Y to 20.2M.
Chinese e-commerce peer Dangdang (DANG) is following Vipshop higher; the company reports tomorrow morning. JD.com (JD), which just set its IPO price range, has to be pleased with the Street's reaction to Vipshop's numbers.
Q1 results, PR