VIPS: Pandemic Pushing Non-Essential Goods From Offline To Online; Post Pandemic Cautiousness Sustaining Such Move; Expect VIPS To Deliver Better 2Q20 Results

  • VIPS: Pandemic Pushing Non-Essential Goods From Offline To Online; Post Pandemic Cautiousness Sustaining Such Move; Expect VIPS To Deliver Better 2Q20 Results

VIPS will report 2Q20 results on August 19th before the markets open with a conference call at 7:30am EST. Based on our data and calculations, we believe VIPS’s 2Q20 revenue is likely to be better than consensus at RMB23,789M (4.6% Y/Y growth) and high end of its guidance (RMB22.7B – RMB23.8B). For 3Q20, we expect VIPS to continue to benefit from high demand of e-commerce as offline traffic is significantly reduced even after the pandemic due to cautiousness, which not only drives users to shop online but also to stay online.  

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