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Earnings Call Summary | Vipshop(VIPS.US) Q1 2024 Earnings Conference

moomoo AI ·  May 22 10:17  · Conference Call

The following is a summary of the Vipshop Holdings Limited (VIPS) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Vipshop's Q1 2024 net revenues were RMB27.6 billion, marking a 0.4% year-on-year growth.

  • Gross profit rose by 10.9% to RMB6.5 billion, mainly due to high margin from apparel sales.

  • Net income attributable to Vipshop's shareholders increased by 24.6% to RMB2.3 billion, and non-GAAP net income saw an increase of 24.8% to RMB2.6 billion.

  • For Q2 2024, Vipshop forecasts total net revenues between RMB26.5 billion and RMB27.9 billion.

Business Progress:

  • Despite a slowdown in business momentum, Vipshop maintained operational flexibility and focused on enhancing long-term strength in Q1 2024.

  • There was a slow growth in sales due to softer-than-expected demand for spring clothing.

  • Despite challenges, the apparel category recorded strong performance with double-digit GMV growth.

  • Active Super VIP membership grew by 11% and contributed to 45% of their online spending.

  • Vipshop expanded its merchandise portfolio with a wider selection of national and global brands and leveraged AI to optimize marketing and enhance customer engagement.

More details: Vipshop IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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