MOGU Inc. (NYSE: MOGU) reported Q4 EPS of ($0.18). Revenue for the quarter came in at $16.8 million.

Fourth Quarter Fiscal Year 2020 Highlights

• Gross Merchandise Value (GMV1) for the fourth quarter of fiscal year 2020 was RMB2,420 million (US$341.8 million2), a decrease of 33.8% year-over-year.
• Live Video Broadcast business continued to grow strongly with associated GMV for the fourth quarter of fiscal year 2020 increasing 54.1% year-over-year to RMB1,581 million (US$223.2 million). LVB associated GMV for the fourth quarter of 2020 accounted for 65.4% of total GMV for the fourth quarter of 2020.
• Total revenues for the fourth quarter of fiscal year 2020 were RMB119.0 million (US$16.8 million), a decrease of 45.3% year-over-year.

Mr. Qi Chen, Chairman and Chief Executive Officer of MOGU, commented, "The global fashion industry experienced a challenging quarter as a result of the COVID-19 outbreak. Apparel supply chains, merchant operations, and e-commerce logistics in China were all disrupted to various extents. Social distancing also weakened demand for fashion products. The live video broadcasting has become increasingly popular for many fashion brands and supply chain partners as a new form of sales. MOGU and our KOLs are well positioned and prepared to meet their growing demand.”

"Despite this unprecedented and challenging quarter, our LVB business maintained robust growth momentum with GMV increased by 54.1% in the fourth quarter of 2020 from the same period in 2019," commented Mr. Raymond Huang, Chief Strategy Officer of MOGU. "LVB GMV accounted for the majority of our GMV for the second consecutive quarter which reflects the direction that we are heading towards. Over the past 12 months, we have been focusing our attention and resources on our innovative LVB e-commerce strategy and building supply chain infrastructure to empower and support our KOLs. As a result, LVB GMV surged by 91.6% in fiscal year 2020. We have clearly reached an inflection point where our LVB business will act as our main growth driver going forward. We will continue to execute our strategy and provide a differentiated, personalized and immersive shopping experience to our customers."

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