JPMorgan Downgrades Vipshop Holdings (VIPS) to Neutral
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Vipshop Reports Unaudited First Quarter 2016 Financial Results
May 17, 2016 4:01 PM EDTGUANGZHOU, China, May 17, 2016 /PRNewswire/ -- Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer for brands in China ("Vipshop" or the "Company"), today announced its unaudited financial results for the first quarter ended March 31, 2016.
First Quarter 2016 Highlights
Total net revenue increased by 41% to RMB12.17 billion (US$1.89 billion), primarily attributable to a 52% year-over-year increase in the number of active customers[1] to 19.7 million and a 53% year-over-year increase in total orders[2] to 58.7 million. Gross profit increased by 38% to RMB2.96 billion (US$458 million) from... More