Vipshop reports Q3 EPS RMB 2.47 vs. RMB 3.33 last year

Reports Q3 revenue RMB 20.7B vs. RMB 22.8B last year. Total orders for the third quarter of 2024 were 163.9M. Eric Shen, chairman and CEO of Vipshop (VIPS), stated, “Our third-quarter performance reflected soft industry trends in discretionary categories. During the quarter, we swiftly adapted our business priorities to address external challenges and identify the biggest opportunities for improvement. We observed some early positive results from a series of adjustments, which further enhanced our merchandising portfolio and operational efficiency, while active Super VIP customers continued to experience double-digit growth. With consumer spending yet to fully recover, we remain laser-focused on our long-term strategies, while driving necessary changes and executing the retail fundamentals that are pivotal to our long-term growth.”