T.H. Data Flash - Vipshop Holdings Limited (VIPS) – 1Q17: Our Data Indicate Better Revenue in 1Q17
Based on our data and calculations, we believe VIPS' 1Q17 revenue is likely to be around $2,351.7M or RMB16,225.2M, an increase of 33.3% Y/Y growth (in RMB terms), better than consensus at RMB15,593.4M or 28.1% Y/Y growth, as well as better than the high end of the company’s guidance of RMB15.3B – RMB15.8B (26% - 30% Y/Y growth). The better-than-expected revenue can be driven by better merchant management system, which enables faster SKU movements. The system was put in place in 2H16.
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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