U.S. markets closed
  • S&P 500

    4,136.48
    -43.28 (-1.04%)
     
  • Dow 30

    33,926.01
    -127.93 (-0.38%)
     
  • Nasdaq

    12,006.96
    -193.86 (-1.59%)
     
  • Russell 2000

    1,985.53
    -15.69 (-0.78%)
     
  • Crude Oil

    73.23
    -2.65 (-3.49%)
     
  • Gold

    1,877.70
    -53.10 (-2.75%)
     
  • Silver

    22.40
    -1.22 (-5.17%)
     
  • EUR/USD

    1.0798
    -0.0113 (-1.04%)
     
  • 10-Yr Bond

    3.5320
    +0.1360 (+4.00%)
     
  • GBP/USD

    1.2056
    -0.0173 (-1.41%)
     
  • USD/JPY

    131.1500
    +2.5460 (+1.98%)
     
  • BTC-USD

    22,948.27
    -504.54 (-2.15%)
     
  • CMC Crypto 200

    535.42
    -1.43 (-0.27%)
     
  • FTSE 100

    7,901.80
    +81.64 (+1.04%)
     
  • Nikkei 225

    27,509.46
    +107.41 (+0.39%)
     

Vipshop Clocks 13% Decline In Q3 Revenue As Macro & Pandemic Headwinds Weigh

  • Vipshop Holdings Limited (NYSE: VIPS) reported a third-quarter FY22 revenue decline of 13.3% year-on-year to $3.04 billion, marginally missing the consensus of $3.06 billion.

  • Drivers: Vipshop's GMV declined 6.5% Y/Y to RMB37.6 billion. The number of active customers decreased by 6.6% Y/Y to 41 million. Total orders fell 2.7% Y/Y to 168.3 million.

  • Resilient Margins: The gross margin expanded 230 bps to 21.7%. The non-GAAP operating margin increased by 300 bps to 7.2%.

  • Non-GAAP earnings per ADS of $0.36 beat the consensus of $0.24.

  • Vipshop held $2.8 billion in cash and equivalents. It generated $101.9 million in operating cash flow.

  • Eric Shen, Chairman and CEO of Vipshop, stated, "In the third quarter, we demonstrated strong profitability through careful execution of our proven business model. Despite that the topline recovery was held back by macro and pandemic headwinds, our customer trend improved month by month."

  • Outlook: Vipshop sees Q4 revenue of RMB30.7 billion - RMB32.4 billion, representing a year-over-year decrease rate of approximately 10% - 5%.

  • Price Action: VIPS shares traded higher by 4.61% at $9.31 in the premarket session on the last check Tuesday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.