Vipshop (NYSE:VIPS) Releases Quarterly Earnings Results, Misses Estimates By $0.47 EPS

Posted by George Bondi on Aug 27th, 2026

Vipshop (NYSE:VIPS – Get Free Report) announced its quarterly earnings results on Tuesday. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.47), FiscalAI reports. Vipshop had a net margin of 9.88% and a return on equity of 13.03%. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion.

Here are the key takeaways from Vipshop’s conference call:

Weak consumer demand weighed on second-quarter results, with revenue declining 4.3% year over year to RMB24.7 billion. Management said shoppers remain highly selective and expects full-year revenue to be slightly below 2025 levels, while third-quarter revenue is forecast to decline approximately 5% to 0%.
Underlying profitability weakened despite stable gross margins: non-GAAP operating margin fell to 8.1% from 9.3%, and non-GAAP net income dropped to RMB392.2 million from RMB2.1 billion. Higher return rates increased fulfillment costs, while lower revenue created operating deleverage.
Reported net income rose sharply to RMB4.3 billion, but this was primarily due to a RMB5.79 billion one-time gain from a commercial REIT listing. A separate RMB1.56 billion withholding-tax adjustment is expected to be settled in the third quarter; management said it was not a penalty and should have minimal impact on future operating margins.
SVIP membership reached 10 million, with active SVIP customers increasing 8% year over year and contributing 54% of online spending. Management is relying on this higher-intent customer base, curated off-price merchandise, and AI-driven personalization to support retention and profitable growth.
Shan Shan Outlet GMV grew more than 20% in the first half, and management expects similar growth in the second half, including at least double-digit same-store growth. Vipshop also approved a new $1 billion share-repurchase program and reiterated its goal of returning at least 75% of 2025 non-GAAP net income to shareholders.

Vipshop Trading Down 0.6%

Shares of NYSE:VIPS opened at $14.07 on Thursday. The stock has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $14.96. Vipshop has a 12-month low of $12.65 and a 12-month high of $21.08. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 4.66, a PEG ratio of 1.44 and a beta of 0.67.

Analysts Set New Price Targets

VIPS has been the topic of a number of research analyst reports. Wall Street Zen downgraded Vipshop from a “buy” rating to a “hold” rating in a report on Monday. Benchmark restated a “hold” rating on shares of Vipshop in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Vipshop in a research report on Friday, August 21st. Bank of America reaffirmed an “underperform” rating on shares of Vipshop in a research report on Friday, May 29th. Finally, Morgan Stanley set a $16.00 price target on shares of Vipshop in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Vipshop currently has a consensus rating of “Moderate Buy” and an average price target of $20.18.

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Hedge Funds Weigh In On Vipshop

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arax Advisory Partners raised its position in shares of Vipshop by 96.8% in the 4th quarter. Arax Advisory Partners now owns 1,407 shares of the technology company’s stock worth $25,000 after purchasing an additional 692 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Vipshop by 8,876.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,244 shares of the technology company’s stock valued at $40,000 after purchasing an additional 2,219 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in Vipshop by 156.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 6,579 shares of the technology company’s stock worth $116,000 after buying an additional 4,009 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Vipshop in the fourth quarter worth about $132,000. Finally, Banco BTG Pactual S.A. bought a new position in shares of Vipshop in the second quarter worth approximately $181,000. 48.82% of the stock is currently owned by institutional investors.

About Vipshop

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Vipshop Holdings Limited (NYSE:VIPS) is a leading online discount retailer in China, offering high-quality branded products at competitive prices through a time-limited, flash-sales model. The company provides consumers with access to a rotating selection of merchandise, combining the excitement of limited-time offers with curated brand partnerships to drive customer engagement and loyalty.

Vipshop’s platform features a diverse range of product categories, including apparel, footwear, cosmetics, home furnishings, digital electronics and other lifestyle goods.