Vipshop reports Q1 EPS 65c, consensus 39c

Reports Q1 revenue $3.8B, consensus $3.93B. The number of active customers for the first quarter of 2024 was 43.1M, compared with 43.7M in the prior year period. Total orders for the first quarter of 2024 were 178.5M, compared with 184.4M in the prior year period. Eric Shen, Chairman and Chief Executive Officer of Vipshop, stated, “The first quarter saw slow business momentum after a strong start due to softer-than-expected seasonal demands. Nonetheless, sales of apparel categories continued to stand out and active Super VIP members achieved double-digit growth. To navigate the dynamic environment, we remain focusing on priorities of enhancing long-term strength. We continue to increase our appeal to consumers by addressing their preferences and strengthening our differentiation to consistently offer great values. While we are cautious in the near-term outlook, we are confident to achieve long-term growth with our unique value proposition and solid business foundation.”