JD / 9618.HK: Strong E-Commerce Consumption Due To Abnormal Seasonality In 1Q21 Leading To Positive Topline Performance In 1Q21
JD will report 1Q21 results on May 19th before the markets open with a 7:30am EST conference call. We are positive into JD’s 1Q21 topline performance. In 1Q21, there is abnormal seasonality, which is completely different from 1Q20 since most people did not travel back home to spend their Chinese New Year holiday instead of staying in the cities. As a result, business and consumer activities were much stronger than normal in 1Q21. Due to the low base in 1Q20 as well as abnormal strong seasonality, the performance of JD’s 1Q21 was strong.
JD Sports Fashion is engaged in the retail of branded sports fashionwear and outdoor clothing and equipment. Co. is multiple retailer of fashionable branded and own brand sports and casual wear in the U.K. and Republic of Ireland combining brands such as Nike, adidas and The North Face with its own brand labels such as Pink Soda, Supply & Demand and The Duffer of St George. Co.'s operations are located in the U.K., Republic of Ireland, France, Spain, Germany, the Netherlands, Italy, Portugal, Sweden, Denmark, Belgium, Malaysia, Australia, New Zealand, Canada, Dubai, Singapore and Hong Kong. As of Jan 28 2017, Co. operated a total of 1,288 retail stores across 14 countries.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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