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Vipshop Initiates $500M Share Buyback Program

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  • Chinese online discount retailer Vipshop Holdings Ltd’s (NYSE: VIPS) board authorized a share buyback program of up to $500 million over a 24-month tenure.
  • Active customer growth drove a 22% year-on-year revenue growth to $5.5 billion in the fourth quarter of FY20. Operating income rose 46% to $396.9 million with a margin expansion of 110 basis points to 7.2%, and the EPS increased 30% to $0.57.
  • The company held cash and cash equivalents of $2 billion as of Dec. 31, 2020.
  • VIPS stock has gained 102% in the last year.
  • Price action: VIPS shares traded higher by 6.22% at $30.24 in the premarket session on the last check Tuesday.
 

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