Baozun Registers 8% Top-Line Decline In Q3

Baozun Inc (NASDAQ: BZUN) reported a third-quarter FY22 revenue decline of 8.3% year-on-year to $244.8 million, marginally beating the consensus of $244.5 million.
Drivers: Gross Merchandise Volume (GMV) rose 15.9% Y/Y to RMB18.6 billion. Distribution GMV decreased 28.8% Y/Y to RMB559 million. Non-distribution GMV climbed 18.2% Y/Y to RMB18.1 billion.
Segments: Product sales revenue declined 28.9% Y/Y to $69.9 million. Services revenue rose 3.8% Y/Y to $174.9 million.
The non-GAAP operating margin was 1.0%, up from (4.4)% a year ago. Non-GAAP income from operations was RMB16.9 million ($2.4 million), compared to RMB(84.3) million loss a year ago.
Non-GAAP loss per ADS of $(0.03) missed the consensus of $0.03.
Baozun held $407.6 million in cash and equivalents.
Vincent Qiu, Chair and CEO, commented, "Despite the ongoing challenging environment, I am encouraged with our business resilience. We continue to execute our medium-term plan with discipline, and strategically invest in our business to expand addressable market."
Price Action: BZUN shares traded higher by 4.56% at $4.36 in the premarket on the last check Tuesday.

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