Vipshop Holdings (VIPS) Reports In-Line Q1 EPS, Revenues Miss

Vipshop Holdings (NYSE: VIPS) reported Q1 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenue for the quarter came in at $4.34 billion versus the consensus estimate of $4.36 billion.

Mr. Eric Shen, Chairman and Chief Executive Officer of Vipshop, stated, "We are glad to have delivered another quarter of strong financial and operational results in the first quarter of 2021. Our number of active customers for the quarter grew by 54% year over year to 45.8 million from 29.6 million in the same period last year, demonstrating continued robust customer acquisition trends. We are keenly focused on strengthening our leadership in China's discount retail market through the solid execution of our merchandising strategy. Our close and long-term relationships with our key suppliers in apparel-related categories give us the advantage in continuing to deepen our collaboration with them through Made-for-Vipshop products, which will further differentiate us from other marketplace platforms and increase the stickiness of our customers over time."

Mr. David Cui, Chief Financial Officer of Vipshop, further commented, "During the first quarter of 2021, we delivered strong topline growth and solid profitability, driven by the robust growth in the number of active customers. In addition, we generated robust free cash inflow of RMB10.1 billion for the trailing twelve months ended March 31, 2021, as compared with RMB2.3 billion in the prior year period. Looking ahead, we will continue to balance our topline and bottom-line growth, aiming to grow as fast as possible while keeping our margins stable. We are committed to delivering long-term, sustainable shareholder value."

Business Outlook

For the second quarter of 2021, the Company expects its total net revenue to be between RMB28.9 billion and RMB30.1 billion, representing a year-over-year growth rate of approximately 20% to 25%. These forecasts reflect the Company's current and preliminary view on the market and operational conditions, which is subject to change.

For earnings history and earnings-related data on Vipshop Holdings (VIPS) click here.

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