Baozun (BZUN) Q4 2024 Earnings Call Transcript
Here are the specific viewpoints from the earnings call:
Bullish Points:
1. Baozun achieved an 8% year-over-year revenue growth in Q4 2024.
2. The e-commerce division saw a 16% increase in non-GAAP operating profits.
3. Baozun e-commerce resumed annual top-line growth after two years of contraction.
4. Online store operations revenue increased by 16% year-over-year.
5. Value-added services, including digital marketing and IT solutions, grew by 15% year-over-year.
6. BBM generated a 17% year-over-year revenue increase.
7. BBM's offline revenue grew for the first time since the acquisition.
8. Baozun's brand portfolio expanded to over 490 brands by the end of 2024.
9. Douyin maintained triple-digit growth during the quarter, contributing 6% of e-commerce revenue.
10. Adjusted income from operations improved by 37% year-over-year.
11. Non-GAAP net income attributable to shareholders improved by 59% year-over-year.
12. The company successfully completed a share repurchase program, repurchasing approximately 9% of total shares outstanding.
13. BBM's same-store sales increased for the second consecutive quarter.
14. BBM plans to open approximately 50 new stores in 2025, aiming for double-digit top-line growth.
Bearish Points:
1. BEC product sales revenue decreased by 4% year-over-year due to weak performance in the appliance category.
2. Gross margin for e-commerce product sales decreased to 10.8% from 12.4% a year ago.
3. Gross margin for BBM decreased to 50.4% from 52.9% a year ago due to higher discounts during Gap promotions.
4. BBM's adjusted operating loss totaled 34 million, though it was an improvement from the previous year.
For more information about Baozun(BZUN)'s earnings call, you can read the relevant news: Baozun (BZUN) Q4 2024 Earnings Call Transcript
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