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Baozun reports Q4 EPS 34c, two estimates 39c

Reports Q4 revenue $370.2M, two estimates $387.7M. Reports Q4 total Gross Merchandise Volume down 1.7% from last year at RMB 25.56B, and Distribution Gross Merchandise Volume at RMB 867.8M, down 37.2% from last year, "mainly due to sales decline in the Appliances and Electronics categories". CEO Vincent Qiu states: ""Despite the tough environment due to COVID-19 in the fourth quarter, we achieved higher operating profits and cash flows. Our diversified category mix with growing value-added services further enhanced our business resilience. While it may take more time for a full recovery in consumer sentiment, we have observed a modest rise in China’s retail industry since February of 2023. We are encouraged by our brand partners’ long-term commitments to further explore and invest into the China market. Looking forward, we see a rapid merging of online and offline commerce, where brands are empowered by technology and digitalization to engage with consumers in a more precise and interactive journey. Reflecting this trend, we are upgrading Baozun into three major business lines — Baozun e-Commerce, Baozun Brand Management and Baozun International. We believe BBM and BZI will bring incremental opportunities that provide tangible growth paths over the next five years. With greater business diversification and expanded leadership, we are confident in our roadmap."

Published first on TheFly

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