The Latest Breaking News from Eric Shen

Key takeaways: After years of steady growth, Vipshop posted a rare 5% revenue decline in its latest quarter, with profit down by an even sharper 42% The discount e-commerce company has rolled out a series of initiatives to jumpstart growth, including trying to convert more users into VIP members By…

Vipshop Holdings Ltd (NYSE:VIPS) reported a fourth-quarter FY21 revenue decline of 4.6% year-on-year to $5.36 billion, missing the consensus of $5.59 billion. Drivers: Vipshop's GMV declined 3.9% Y/Y to RMB57 billion. The number of active customers decreased 7.2% Y/Y to 49.2 million. Total orders fell 4.6% Y/Y to 216.9 million. Margins: The gross margin contracted…