Vipshop (VIPS) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 14, 2026

After Close (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.6

Last Year’s EPS

0.6

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 3 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 21, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call balanced demonstrable operating and financial strengths (modest revenue growth, stronger gross margins, double-digit net income growth, SVIP expansion, a strong outlet business, healthy cash reserves, completed dividend and an expected one-time REIT gain) with meaningful near-term headwinds (soft March–May trends, cautious Q2 revenue guidance of -5% to 0% YoY, online softness vs offline/outlet shift, higher fulfillment costs and limited non-GAAP improvement). Management emphasized operational discipline, AI-driven initiatives and SVIP-driven quality of growth but acknowledged uncertainty in consumer sentiment, resulting in conservative near-term guidance.

Company Guidance

Management guided Q2 2026 net revenues of RMB 24.5 billion to RMB 25.8 billion (implying roughly a ~5% to 0% year‑over‑year change), reiterated a steady full‑year outlook and confidence in meeting targets while preserving profitability, and reaffirmed a shareholder return commitment to distribute 75% of full‑year 2025 non‑GAAP net income (they completed an April dividend of ~USD 300 million and will execute the balance); the company cited strong liquidity (cash & restricted cash RMB 28.3 billion; short‑term investments RMB 2.7 billion), a robust free‑cash‑flow outlook and the ability to fund the program, and noted a one‑time GAAP investment gain of ~RMB 5.3 billion (with ~RMB 1.7 billion tax impact) and an expected net cash inflow of ~RMB 1.7 billion in Q2 from the REIT transaction — all underpinned by operational drivers including SVIP member growth (+9% YoY; paid members account for ~50–55% of online spend) and Shanshan outlets GMV growth (~30% YoY).

Revenue and Profitability Growth in Q1

Total net revenues increased 1.2% YoY to RMB 26.6 billion. Gross profit rose 6.8% YoY to RMB 6.5 billion and gross margin expanded to 24.4% from 23.2% (up 1.2 percentage points). Income from operations increased 9.7% YoY to RMB 2.5 billion with operating margin improving to 9.4% from 8.7%.

Net Income and EPS Improvement

Net income attributable to Vipshop shareholders increased 13.6% YoY to RMB 2.2 billion. Net margin widened to 8.3% from 7.4%. Net income per diluted ADS rose to RMB 4.48 from RMB 3.72.

Strong SVIP Member Metrics and Customer Quality

Total active customers showed positive momentum led by SVIP members which grew 9% YoY. Paid SVIP members accounted for approximately 50%–55% of online spending, driving higher-quality revenue and engagement.

Outlet (Shanshan) Business Outperformance

Shanshan outlets posted robust growth with GMV up around 30% YoY, benefiting from category concentration (e.g., sports, outdoor) and strong regional positions of key outlets.

Shareholder Returns and Strong Cash Position

Completed annual dividend distribution of approximately USD 300 million and remain on track to return 75% of full-year 2025 non-GAAP net income. As of March 31, 2026, cash and cash equivalents (including restricted cash) were RMB 28.3 billion and short-term investments RMB 2.7 billion.

Strategic ENablers — AI, Merchandising, and Exclusive Inventory

Management highlighted scaling generative AI for personalized marketing, improvements in merchandising speed and exclusive low-priced inventory flow-through, which have driven improved customer acquisition efficiency and higher-frequency visits from high-value shoppers.

REIT Transaction Driving Near-Term Accounting Gain and Cash Inflow

Subscription to 49% of a commercial REIT (two underlying assets) will deconsolidate those assets; management expects a one-time GAAP investment gain of ~RMB 5.3 billion in Q2 and a cash inflow of ~RMB 1.7 billion in Q2.

Vipshop (VIPS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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VIPS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 14, 2026	2026 (Q2)	0.60 / -	0.598	―	―	―
May 21, 2026	2026 (Q1)	0.67 / 0.69	0.652	5.64% (+0.04)
Feb 26, 2026	2025 (Q4)	0.81 / 0.83	0.839	-0.70% (>-0.01)
Nov 20, 2025	2025 (Q3)	0.43 / 0.44	0.364	20.65% (+0.08)
Aug 14, 2025	2025 (Q2)	0.59 / 0.60	0.575	3.84% (+0.02)
May 20, 2025	2025 (Q1)	0.64 / 0.65	0.686	-4.94% (-0.03)
Feb 21, 2025	2024 (Q4)	0.74 / 0.84	0.852	-1.55% (-0.01)
Nov 19, 2024	2024 (Q3)	0.37 / 0.36	0.49	-25.83% (-0.13)	―
Aug 20, 2024	2024 (Q2)	0.58 / 0.58	0.633	-9.07% (-0.06)
May 22, 2024	2024 (Q1)	0.61 / 0.69	0.518	32.39% (+0.17)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VIPS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 21, 2026	$14.22	$14.52	+2.11%
Feb 26, 2026	$17.07	$17.42	+2.08%
Nov 20, 2025	$18.70	$17.39	-7.00%
Aug 14, 2025	$15.73	$16.66	+5.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.