Core Insights - Vipshop Holdings Limited reported its unaudited financial results for the fourth quarter and full year of 2025, highlighting a focus on strategic realignment and operational resilience to drive long-term growth [1] Financial Performance - Total orders for Q4 2025 were 206.0 million, down from 217.5 million in Q4 2024. For the full year, total orders were 732.4 million, compared to 757.5 million in 2024 [1] - Active customers in Q4 2025 numbered 45.3 million, slightly down from 45.7 million in the prior year. For the full year, active customers were 84.8 million, up from 84.7 million [1] - Non-GAAP net income for Q4 2025 was RMB 2.9 billion (US$ 408.7 million), compared to RMB 3.0 billion in Q4 2024. For the full year, it was RMB 8.7 billion (US$ 1.3 billion), down from RMB 9.0 billion [1] - Net income attributable to shareholders for Q4 2025 increased by 5.8% year-over-year to RMB 2.6 billion (US$ 370.3 million) from RMB 2.4 billion in Q4 2024. For the full year, net income was RMB 7.2 billion (US$ 1.0 billion), down from RMB 7.7 billion [1] - Gross profit for Q4 2025 was RMB 7.4 billion (US$ 1.1 billion), compared to RMB 7.6 billion in Q4 2024. For the full year, gross profit was RMB 24.5 billion (US$ 3.5 billion), down from RMB 25.5 billion [1] Revenue and Expenses - Total net revenues for Q4 2025 were RMB 32.5 billion (US$ 4.6 billion), down from RMB 33.2 billion in Q4 2024. For the full year, total net revenues were RMB 105.9 billion (US$ 15.1 billion), compared to RMB 108.4 billion in 2024 [1] - Total operating expenses for Q4 2025 decreased by 3.7% year-over-year to RMB 4.9 billion (US$ 697.7 million) from RMB 5.1 billion in Q4 2024 [1] - Operating margin for Q4 2025 increased to 8.9% from 8.6% in the prior year [1] Cash Flow and Shareholder Returns - As of December 31, 2025, the company had cash and cash equivalents of RMB 24.1 billion (US$ 3.4 billion) and short-term investments of RMB 5.8 billion (US$ 826.1 million) [1] - The company returned US$ 944.1 million to shareholders in 2025 through dividends and share repurchases [1] - An annual cash dividend of US$ 3.10 per ordinary share was declared for fiscal year 2025, with a payment date expected on April 24, 2026 [1] Business Outlook - For Q1 2026, Vipshop expects total net revenues to be between RMB 26.3 billion and RMB 27.6 billion, representing a year-over-year increase of approximately 0% to 5% [1]

Business Overview - Vipshop is China's leading online discount retailer for brands, offering branded products at exceptional value[6] - The company's competitive strengths include high market demand, strong merchandising expertise, superior customer experience, operational excellence, and visionary management[9] - Vipshop provides a one-stop inventory solution for brands, specializing in monetizing inventory without brand dilution[19] - The company focuses on reaching high-value customers who care for brand, quality, and authenticity, offering diversified online and offline channels[19] Customer Engagement and Loyalty - Vipshop has a quality customer base with growth potential, with 84.7 million total active customers[30] - Repeat customers make up 86% of total active customers in FY 2024, totaling 73 million[27] - Active Super VIP customers reached 8.8 million in FY 2024, representing 49% of online net GMV, with a year-over-year growth of 16%[27] - Orders from repeat customers in FY 2024 totaled 746 million, accounting for 98% of total orders[27] Financial Performance - Total net revenues reached RMB 108421 million in 2024, a decrease of 3.9%[52] - Non-GAAP net income attributable to Vipshop's shareholders was RMB 9033 million in 2024, with a net margin of 8.3%[54] - The company maintains a healthy gross margin, with a gross profit of RMB 25470 million in 2024 and a gross margin of 23.5%[57] - Vipshop has a strong cash position, with cash and cash equivalents, restricted cash, and short-term investments totaling RMB 27722 million as of 3Q25[72] ESG Commitment - Vipshop's MSCI ESG Rating is maintained at "AA", a leader in the consumer discretionary industry[41] - The company pledges to achieve carbon neutrality in its own operations and a 50% reduction in Scope 3 carbon emission intensity by 2030[44]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher," contrasting with traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investing can be risky as stocks may lose momentum when their valuations exceed future growth potential [1] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, identified through the Zacks Momentum Style Score [2] Group 2: Stock Performance and Analysis - BBBY has shown a price increase of 10.4% over the past four weeks, indicating growing investor interest [3] - BBBY's stock gained 39.5% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe [4] - The stock has a beta of 2.77, suggesting it moves 177% higher than the market in either direction [4] Group 3: Valuation and Earnings Estimates - BBBY has a Momentum Score of B, indicating a favorable time to invest based on momentum [5] - The stock has a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which attract more investor interest [6] - BBBY is trading at a Price-to-Sales ratio of 0.46, suggesting it is undervalued at 46 cents for each dollar of sales [6] Group 4: Additional Investment Opportunities - Besides BBBY, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [7] - Zacks offers over 45 Premium Screens tailored to different investing styles, aiding in stock selection [8]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Beyond (BYON) despite lower revenues, with the actual results being crucial for stock price movement [1][2]. Earnings Expectations - Beyond is expected to report a quarterly loss of $0.37 per share, reflecting a year-over-year improvement of +51.3%. Revenues are projected to be $261.38 million, down 34.3% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating that analysts have not significantly altered their outlook for the company [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that Beyond has a positive Earnings ESP of +16.78%, suggesting analysts are optimistic about the company's earnings prospects [11]. Historical Performance - In the last reported quarter, Beyond was expected to post a loss of $0.67 per share but actually reported a loss of -$0.42, resulting in a surprise of +37.31%. Over the last four quarters, the company has beaten consensus EPS estimates twice [12][13]. Investment Considerations - While a potential earnings beat could positively influence the stock, other factors may also affect stock performance, making it essential to consider the broader context [14][16].