Vipshop shares rocking.
Vipshop shares are rocking today as the e-commerce company released their quarterly earnings.
The Chinese online discount sales company is up over 7% at the time of this writing. They reported $0.22 EPS in their 4th Quarter, which was $0.02 better than the analyst estimate of $0.20. Their total net revenue rose 27% due to customer growth, which equates to $3.7 billion, lower than the expected $3.8 billion.
Vipshop saw an increase in the number of active users. In 2016, Vips brought in 52.1 million users. Last year, the company raised their numbers to 57.8 million.
The Chairman and CEO of Vipshop Eric Shen said: “During this quarter, we announced our strategic partnership with Tencent and JD.com, which we believe will contribute meaningfully to our customer growth and market share gain. In addition, we are delighted to have become the sponsor and exclusive Chinese e-commerce partner for London Fashion Week, further strengthening our leadership in our core categories and solidifying our strong position in the fashion industry.”