Dangdang -11.1% on soft Q3 outlook; Jumei also off


Though Dangdang (NYSE:DANG) beat Q2 estimates, it's guiding for Q3 revenue of RMB1.984B ($322.5M), below a $325.7M consensus. Marketplace GMV is expected to grow 80% Y/Y.

Q2 media revenue +43.5% Y/Y to $218.6M, general merchandise +8.2% to $84.5M, other revenue +26.1% to $13M. Marketplace GMV +81.6% to $230.7M.

Gross margin rose to 18.3% from 18.2% in Q1 and 17.1% a year ago. Fulfillment spend fell to 9.7% of revenue from 12% a year ago; marketing spend to 4.2% from 5.1%; tech/content spend to 2.4% from 3.1%; and G&A to 2.1% from 2.3%.

Active customers totaled 8.5M, up 23% Y/Y but down slightly Q/Q. Total orders rose 10% Y/Y and slightly Q/Q to 16.5M. Mobile accounted for 17% of orders (22% in June).

Peer Vipshop is selling off in spite of providing a Q2 beat and strong guidance. Online cosmetics retailer Jumei (JMEI -3.6%) is following Dangdang and Vipshop lower ahead of its Aug. 18 Q2 report.

Q2 results, PR

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