VIPS - Vipshop slides as quarterly sales forecast falls short of estimates

Vipshop's (VIPS) U.S.-listed shares are down 4.3% pre-market after reporting soft first quarter revenue and providing a downside Q2 sales forecast.For Q1, sales were up 63% on the year to $4.33 billion, in-line with analyst estimates. Adjusted EPS of $0.37 beat consensus by three cents.GMV was up 59% to RMB46.1 billion.Active customers increased 54% to 45.8 million. Total orders were up 44% to 175.5 million.Gross profit was up 55% to RMB5.6 billion."During the first quarter of 2021, we delivered strong topline growth and solid profitability, driven by the robust growth in the number of active customers. In addition, we generated robust free cash inflow of RMB10.1 billion for the trailing twelve months ended March 31, 2021, as compared with RMB2.3 billion in the prior year period. Looking ahead, we will continue to balance our topline and bottom-line growth, aiming to grow as fast as possible while keeping our margins stable. We are committed to delivering

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Vipshop slides as quarterly sales forecast falls short of estimates