Chinese Discount Retailer Vipshop Posts 4% Topline Decline As Economy Hurts, Sweetens Deal With $1B Buyback Plan

Vipshop Holdings Limited (NYSE:VIPS) reported second-quarter sales of $3.7 billion, down by 3.6% year-on-year, which topped the Wall Street view of $3.66 billion. Vipshop Holdings registered adjusted earnings per ADS of 54 cents, which aligns with the analyst consensus. The stock price slid after the print. Total orders for the quarter were 197.8 million, compared with 213.8 million in the prior year period. Gross margin for the ...