Vipshop reports 10-pct revenue growth in 2019
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E-mail Xinhua, March 6, 2020
China's major online discount retailer Vipshop Holdings Limited saw its total net revenue reach 93 billion yuan (about 13.4 billion U.S. dollars) in 2019, up 10 percent year on year, the company said Thursday.
The New York Stock Exchange-listed company has remained profitable for 29 consecutive quarters, with a 14-percent increase in gross merchandise value (GMV) last year which amounted to 148.2 billion yuan from 131 billion yuan in 2018.
Non-GAAP net income attributable to Vipshop's shareholders for the fourth quarter of 2019 soared by 111.4 percent year on year to 1.9 billion yuan.
In 2019, the number of active customers and total orders of Vipshop grew by 14 percent and 29 percent year on year to 69 million and 566.3 million respectively.
"Our core business is highly profitable, driven by the high margin apparel category," said Yang Donghao, chief financial officer of Vipshop.
Eric Shen, chairman and CEO of Vipshop, said the company is fully confident in the long-term potential of the Chinese economy and the growth opportunities in China's discount retail segment despite the short-term impact from the novel coronavirus outbreak.
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