Vipshop sales soar
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Vipshop, the Chinese online discount retailer, says it boosted sales by as much as 63 per cent in the last quarter.
The US-listed company says it expects revenue to be between RMB8.6 billion (US$1.349 billion) and RMB8.7 billion ($1.365 billion). But that is less than its earlier guidance of RMB9.1 billion to RMB9.3 billion.
“The weaker-than-expected preliminary third quarter results for total net revenue are partially driven by the warmer-than-expected fall weather in China, which caused customers to delay purchases of relatively higher-priced autumn and winter apparel,” the company said in a stock exchange disclosure.
The preliminary, unaudited results are based on management’s initial review of operations for the quarter to September 30, and remain subject to change based on management’s ongoing review of the third quarter results.
Questions & Answers
Q.What is Vipshop's financial forecast for the upcoming quarter?
What is Vipshop's financial forecast for the upcoming quarter?
Vipshop expects revenue to be between RMB8.6 billion ($1.349 billion) and RMB8.7 billion ($1.365 billion) for the quarter.
Q.Why did Vipshop's revenue forecast change from earlier guidance?
Why did Vipshop's revenue forecast change from earlier guidance?
The company stated the change was partially due to warmer-than-expected autumn weather, which delayed purchases of higher-priced seasonal apparel.
Q.What kind of results are these figures for the last quarter?
What kind of results are these figures for the last quarter?
These are preliminary, unaudited results based on management's initial review for the quarter ending September 30, and are subject to change.
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