Vipshop reports Q4 EPS 82c, consensus 71c

Reports Q4 revenue $4.9B, consensus $4.69B. Total orders for the fourth quarter increased by 7.2%. The number of active customers for the fourth quarter of 2023 increased by 2.3%. Eric Shen, chairman and CEO of Vipshop, stated, “We rounded off 2023 with a set of results well beyond our expectations, as we successfully executed our merchandising strategy to seize opportunities in value-based spending amid strong seasonal demand. Apparel categories continued to fuel our growth and outperformed the industry average all year long, which helped us cross RMB200 billion in total annual GMV for the first time in our history. Our strategy focusing on discount retail for brands pays off. We have made great progress in merchandise expansion and value-for-money perception. This has been instrumental in increased customer loyalty and double-digit growth in active Super VIP members. Looking ahead, we are confident that our sustainable business model will lead us to longer-term growth.”