BRIEF: Baozun’s operating profit narrows as e-commerce unit returns to the black
E-commerce software provider Baozun Inc. (BZUN.US; 9991.HK) on Tuesday reported its revenue rose in the third quarter, as its core e-commerce services returned to profitability and losses narrowed for its newer brand management business.
The company’s revenue rose 4.8% year-on-year in the three months to September to 2.16 billion yuan ($303 million), while its loss from operations narrowed to 25.6 million yuan from 115 million yuan a year earlier, the company said. Its non-GAAP net loss also narrowed to 40.2 million yuan from 66.8 million yuan in the year-ago period.
Baozun’s e-commerce business reported adjusted operating income of 28.1 million yuan for the quarter, reversing a loss of 29.8 million yuan a year earlier. The adjusted operating loss for its brand management business, which includes its operation of Gap clothing stores in China, narrowed to 38.7 million yuan from 55.3 million yuan a year earlier.
Baozun’s New York-listed shares fell 5.8% on Tuesday after the results announcement, while its Hong Kong-listed shares dropped 4.9% on Wednesday.
By Doug Young
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