Vipshop Holdings Limited Q1 2026 Financial Results

Vipshop Holdings Limited announced its unaudited financial results for the first quarter of 2026. The company reported total net revenues of RMB26.6 billion (US$3.9 billion), a 1.2% increase year-over-year. Gross profit rose by 6.8% to RMB6.5 billion (US$941.6 million), with a gross margin of 24.4%. Net income attributable to shareholders increased by 13.6% to RMB2.2 billion (US$319.8 million), resulting in a net margin of 8.3%. The number of active customers grew by 0.9% to 41.7 million, and total orders increased by 3.2% to 172.6 million. The company's financial performance was driven by strong apparel sales and effective customer engagement strategies. For the second quarter of 2026, Vipshop expects total net revenues to be between RMB24.5 billion and RMB25.8 billion, a year-over-year decrease of 5% to 0%.