Vipshop, China’s leading online discount retailer for brands, total net revenues increased by YoY 136.1% to US$829.4 million, primarily attributable to a 167.9% increase in the number of active customers to 9.3 million from 3.5 million and a 138.4% increase in total orders to 26.3 million from 11.0 million in the prior year period, according to its announced unaudited second quarter financial results.
Other Highlights of vipshop in Q2 2014
- Gross margin increased to 24.8% from 23.5% in the prior year period.
- Income from operations increased by 251.3% to US$23.7 million from US$6.7 million in the prior year period. Operating income margin increased to 2.9% from 1.9% in the prior year period
- Non-GAAP income from operations increased by 349.4% year-over-year to US$42.9 million from US$9.5 million in the prior year period. Non-GAAP operating income margin increased to 5.2% from 2.7% in the prior year period.
- Net income attributable to Vipshop’s shareholders increased by 192.1% to US$26.4 million from US$9.0 million in the prior year period. Net income margin increased to 3.2% from 2.6% in the prior year period.
- Non-GAAP net income attributable to Vipshop’s shareholders increased by 263.6% to US$43.0 million from US$11.8 million in the prior year period. Non-GAAP net income margin increased to 5.2% from 3.4% in the prior year period.
Mr. Eric Shen, Chairman and CEO of Vipshop, stated,
We are very pleased with our robust second quarter financial and operational results. Operationally, our total active customers amassed to 9.3 million, of which 4.1 million were new active customers during the quarter. In addition, this quarter also witnessed continued integration with Lefeng, which contributed nearly 2.0 million total orders, and more than 1.3 million total active customers. With mobile becoming a more important revenue stream, we recently launched our first U.S. R&D center. Based in San Jose, this facility will leverage the deep pool of mobile and data mining talent in Silicon Valley to improve our business in the areas of Big Data, data mining, and machine-to-machine learning, further tailoring and optimizing the shopping experience on our platform.
For the third quarter of 2014, Vipshop expects its total net revenues to be between US$850 million and US$860 million, representing a year-over-year growth rate of approximately 122% to 124%.
Vipshop ranked the third in second quarter mobile shopping market by revenue, after Tmall and Jingdong.
Vipshop recently ranked the 421th in Fortune China 500 list in 2014, the fourth among China internet companies after Jingdong, Tencent, and Baidu.