Vipshop Initiates $500M Share Buyback Program

March 30, 2021 9:08 AM | 1 min read | Make a Comment

Chinese online discount retailer Vipshop Holdings Ltd’s VIPS board authorized a share buyback program of up to $500 million over a 24-month tenure.
Active customer growth drove a 22% year-on-year revenue growth to $5.5 billion in the fourth quarter of FY20. Operating income rose 46% to $396.9 million with a margin expansion of 110 basis points to 7.2%, and the EPS increased 30% to $0.57.
The company held cash and cash equivalents of $2 billion as of Dec. 31, 2020.
VIPS stock has gained 102% in the last year.
Price action: VIPS shares traded higher by 6.22% at $30.24 in the premarket session on the last check Tuesday.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.