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Vipshop to Benefit From Chinese Economic Slowdown, CFO Says Bloomberg
Nov. 14 (Bloomberg) -- Donghao Yang spoke in phone interview from Los Angeles.
* Will benefit from slowing growth as co. sells discounted goods, he said
* New Chinese leadership may cut taxes to stimulate domestic demand; will have “positive impact” on Vipshop sales
* “Company is right on track to turn to profitability in the near-term future”
* NOTE: Co. reported net Q3 loss of 3c/ ADS today, vs avg est. of two analysts for 12c. Non-GAAP net income was $640,542, first positive number since March U.S. IPO.
* Plan to triple warehouse area by end-2013 as all four warehouses “fully used,” Yang said
* Short sellers targeting Chinese cos listed in U.S. has bolstered overall quality of listed cos, he said