Baozun (NASDAQ:BZUN) Full Year 2023 Results

Key Financial Results

• Revenue: CN￥8.81b (up 4.9% from FY 2022).

• Net loss: CN￥278.4m (loss narrowed by 57% from FY 2022).

• CN￥4.68 loss per share (improved from CN￥10.69 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Baozun EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%.

The primary driver behind last 12 months revenue was the E-Commerce segment contributing a total revenue of CN￥7.62b (86% of total revenue). Notably, cost of sales worth CN￥4.92b amounted to 56% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to CN￥2.83b (68% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN￥2.34m. Explore how BZUN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Multiline Retail industry in the US.

Performance of the American Multiline Retail industry.

The company's shares are down 2.5% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Baozun that you need to be mindful of.

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