• Reported GAAP EPS of $4.60 up 21.69% YoY • Reported revenue of $26.57B up 1.16% YoY • Vipshop expects its total net revenues for the second quarter of 2026 to be between RMB24.5 billion and RMB25.8 billion, representing a year-over-year decrease of approximately 5% to 0%.
Bullish
Vipshop achieved 13.6% net income growth to RMB2.2 billion and 8.6% GMV growth to RMB56.9 billion. Active customers increased to 41.7 million, demonstrating solid operational execution.
Bearish
Vipshop forecasts Q2 2026 net revenues to decrease 0% to 5% year-over-year, while operating expenses increased to 15.7% of revenues. Non-GAAP net income remained flat at RMB2.31 billion.