BofA/Merrill Lynch Upgrades Vipshop Holdings (VIPS) to Buy

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Vipshop Reports Unaudited Second Quarter 2016 Financial Results

August 15, 2016 4:05 PM EDT

GUANGZHOU, China, Aug. 15, 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 second quarter ended June 30, 2016.

Second Quarter 2016 Highlights

Total net revenue increased by 49.0% to RMB13.44 billion (US$2.02 billion), primarily attributable to a 62% year-over-year increase in the number of active customers[1] to 23.0 million and a 54% year-over-year increase in total orders[2] to 68.9 million. Gross profit increased by 44.0% to RMB3.24 billion (US$487.7 million) from RMB2.25... More