Vipshop (NYSE:VIPS) expects Q3 revenue of $850M-$860M, above an $824.9M consensus.
Q2 gross margin was 24.8%, -10 bps Q/Q and +130 bps Y/Y. Fulfillment spend fell to 10.1% of revenue from 12.2% a year ago; marketing spend rose to 5.4% from 4.3%; G&A rose to 4.4% from 3.1%; tech/content rose to 2.6% from 2.5%.
Active customers rose to 9.3M from 7.4M in Q1 and just 3.5M a year ago. Total orders rose to 26.3M from 20.2M in Q1 and 11M a year ago.
Expectations are a lot higher than they were a few months ago.
Q2 results, PR