BZUN: Strong Huawei Store Sales Drive GMV Growth In 2Q19; Expect Better 2Q19 Revenue
BZUN will report 2Q19 results on August 21st before the markets open with an 8:30am EST conference call. We are positive on BZUN into 2Q19 earnings. BZUN’s GMV grew faster in 2Q19 than that in 1Q19 driven by the sales hike of Huawei flagship store. Huawei is under the non-distribution model; therefore, we do not expect the take rate for non-distribution model to improve in 2Q19.