Tue, Nov. 17, 4:08 PM
- Vipshop Holdings (NYSE:VIPS): Q3 EPS of RMB0.76 ($0.12) misses by RMB0.04.
- Revenue of RMB8.67B (+60.0% Y/Y) misses by RMB560M, but is in-line with the guidance provided in last Friday's warning.
- Expects Q4 revenue of RMB12B-RMB12.5B. Consensus (RMB13.23B) doesn't fully take the warning into account.
- Shares +4.6% after hours.
- Press Release
Mon, Nov. 16, 5:35 PM
Fri, Nov. 13, 9:07 AM
- Vipshop (NYSE:VIPS) now expects to report Q3 revenue of RMB8.6B-RMB8.7B (+61%-63% Y/Y, equal to $1.35B-$1.36B), below prior guidance of RMB9.1B-RMB9.3B and an RMB9.23B consensus.
- The Chinese online retailer blames "warmer-than-expected fall weather in China, which caused customers to delay purchases of relatively higher-priced autumn and winter apparel."
- Shares have plunged to $13.67 premarket. Q3 results arrive after Tuesday's close.
Mon, Aug. 10, 6:00 PM
- Initially up in AH trading after beating Q2 EPS estimates and posting in-line revenue, Vipshop (NYSE:VIPS) is now down 2.4% to $20.50.
- The Chinese online retailer is guiding for Q3 revenue of RMB9.1B-RMB9.3B ($1.47B-$1.5B), good for 71%-74% RMB-based Y/Y revenue growth but below a $1.51B consensus.
- Active customers rose 47.2% Y/Y in Q2 to 14.2M; orders rose 55.2% to 44.9M. Excluding Vipshop's group-buying business (began to be de-emphasized in Q3 2014) and the Lefeng online fashion/beauty product unit (acquired last year), customers and orders respectively rose 84.4% and 86.1%.
- Gross margin rose 10 bps Q/Q and 20 bps Y/Y to 25%. Operating expenses were 20.6% of revenue vs. 22.5% a year ago - fulfillment and G&A spend declined as a % of revenue, while tech/content and marketing spend grew.
- Q2 results, PR
Mon, Aug. 10, 4:05 PM
Sun, Aug. 9, 5:35 PM| Sun, Aug. 9, 5:35 PM | 13 Comments
Wed, May 13, 4:06 PM
Tue, May 12, 5:35 PM
Tue, Feb. 17, 2:46 PM
- Vipshop (VIPS +14.4%) has surged to new 52-week highs after trouncing Q4 revenue estimates (and posting a more moderate EPS beat) and guiding for Q1 revenue of $1.25B-$1.3B (above a consensus of $1.22B and good for 78%-85% Y/Y growth). Given the company's history, the guidance might be conservative.
- Vipshop's active customers rose 114.2% Y/Y in Q4 to 12.2M, and its orders rose 99.6% to 35.3M. Mobile made up a whopping 66% of GMV, up from Q3's 57% and above Alibaba's 42%.
- Gross margin rose 40 bps Y/Y to 24.9%, and operating expenses grew 115% to $287.5M (exceeded revenue growth of 108.9%). Fulfillment spend +73.9%; marketing +135.5%; tech/content +168.9%; G&A +209.2%.
- Chinese e-commerce peers JD.com (JD +2.4%), Dangdang (DANG +5.8%), and LightInTheBox (LITB +3.4%) are following Vipshop higher. Vipshop and JD.com have both argued their internal logistics/fulfillment investments give them an edge over many of the sellers relying on Alibaba's platforms.
Mon, Feb. 16, 5:54 PM
Nov. 19, 2014, 1:29 PM
- Vipshop's (NYSE:VIPS) in-line Q4 guidance "may prove conservative," says JG Capital's Henry Guo, reiterating an Overweight. Barclays' Alicia Yap feels likewise.
- Morgan Stanley's Robert Lin is also staying bullish, but notes Vipshop's Q3's active customer count and orders were soft on a Q/Q basis - the former only rose by 200K, and the latter fell by 800K (its first-ever Q/Q drop). He suspects Vipshop's acquisition of online beauty/fashion product retailer Lefeng took a toll, as did tough comps caused by a successful Q2 promotion.
- Shares still +169% YTD.
- Q3 results, guidance/details
Nov. 18, 2014, 4:22 PM
- Vipshop (NYSE:VIPS) expects Q4 revenue of $1.2B-$1.22B, +84%-87% Y/Y and in-line with a $1.21B consensus.
- Q3 gross margin was 24.9%, +10 bps Q/Q and +70 bps Y/Y. However, opex rose 147.7% Y/Y to $205.6M, growing to 23.3% of revenue from 21.6% a year ago. Fulfillment spend +91.5% to $84.4M; marketing +170.8% to $47.1M; tech/content +225.4% to $31.3M; G&A +259.4% to $42.8M.
- Active customers rose to 9.5M from 9.3M in Q2 and 4M a year ago. Total orders amounted to 25.5M, up from 11.7M a year ago but down from 26.3M in Q2. 57% of GMV stemmed from mobile orders.
- VIPS +0.3% AH. Q3 results, PR.
Nov. 18, 2014, 4:03 PM
Nov. 17, 2014, 5:35 PM
Nov. 17, 2014, 2:16 PM
- JD.com's (NASDAQ:JD) Q3 revenue of $4.73B beat a $4.67B consensus, while EPS of $0.04 beat a -$0.01 consensus.
- Q4 guidance is for revenue of RMB32B-RMB33B ($5.22B-$5.38B), good for 59%-64% Y/Y growth and in-line with a $5.28B consensus.
- Spending was aggressive: Fulfillment spend +105% Y/Y to $345M; marketing +134% to $143M; tech/content +104% to $83.4M; G&A +126% to $71.6M.
- GMV rose 111% Y/Y in Q3 (slightly better than Q2's 107% growth) to $11B; for reference, Alibaba's GMV rose 49% in calendar Q3. Active customer accounts +109% to 46.1M; fulfilled orders +119% to 178.2M.
- Direct sales rose 57% Y/Y, and revenue from services/others 184% (marketplace and ad growth). 29.6% of fulfilled orders were placed through mobile devices, up from 24% in Q2.
- Gross margin rose to 12.2% from 11% in Q2 and 9.8% a year ago.
- Rival Vipshop (NYSE:VIPS) is selling off ahead of Wednesday's Q3 report.
- Q3 results, PR
Aug. 13, 2014, 4:26 PM
- 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
Other News & PR