Vipshop Adds More Shoppers, Super VIPs Jump Double Digits

Vipshop Holdings Limited (NYSE:VIPS) stock rose Thursday after it reported its third-quarter results.

The quarterly sales reached $3.00 billion (21.4 billion Chinese yuan), topping the analyst consensus estimate of $2.96 billion. This is a 3.46% increase over sales of 20.7 billion yuan in the same period last year.

The Chinese online discount retailer registered adjusted earnings per ADS of 42 cents or 2.98 yuan, topping the analyst consensus estimate of 35 cents. 

Also Read: Chinese Discount Retailer Vipshop Stock Is Tumbling Tuesday: What’s Going On?

Total orders for the quarter were 166.4 million, compared with 163.9 million in the prior year period. The number of active customers for the quarter was 40.1 million, up from 39.6 million a year ago.

The quarter’s gross margin was 23.0%, down from 24.0% in the prior year period. Gross profit declined 0.9% to $689.55 million (4.91 billion yuan).

GMV (Gross Merchandise Volume) for the quarter was 43.1 billion yuan versus 40.1 billion yuan a year ago.

As of September 30, 2025, the company had cash and cash equivalents, restricted cash of $3.5 billion (25.1 billion yuan), and short-term investments of $831.7 million (5.9 billion yuan).

During the quarter, the company repurchased $24.6 million of its ADSs under its current $1.0 billion share repurchase program, which is effective through February 2027. As of September 30, 2025, the company had an unutilized amount of $621.4 million under this program.

Vipshop Chairman and CEO Eric Shen said the company regained growth in the third quarter, powered by strong customer momentum — including double-digit gains in Super VIP memberships — and broad recovery across core categories.

He emphasized that strategic organizational realignment has strengthened the company’s merchandising, customer engagement, and operations flywheel, while technology and AI continue to unlock new efficiency and growth opportunities.

Outlook

For the fourth quarter, the company expects total net revenues between 33.20 billion yuan and 34.90 billion yuan.

This range compared to the analyst consensus estimate of 33.93 billion yuan ($3.64 billion) and represents a year-over-year increase of approximately 0% to 5%.

Price Action: VIPS stock was trading higher by 2.26% to $19.90 premarket at last check Thursday. 

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