Vipshop Holdings Limited (NYSE:VIPS) Q2 2024 Earnings Conference Call August 20, 2024 7:30 AM ET
Company Participants
Jessie Zheng - Head of IR
Eric Shen - Co-Founder, Chairman & CEO
Mark Wang - CFO
Conference Call Participants
Thomas Chong - Jefferies
Alicia Yap - Citi
Andre Chang - JPMorgan
Ronald Keung - Goldman Sachs
Jialong Shi - Nomura
Operator
Ladies and gentlemen, good day, everyone and welcome to Vipshop Holdings Limited Second Quarter 2024 Earnings Conference Call.
At this time, I would like to turn the call to Ms. Jessie Zheng, Vipshop's Head of Investor Relations. Please proceed.
Jessie Zheng
Thank you, operator. Hello, everyone and thank you for joining Vipshop's second quarter 2024 earnings conference call. With us today are Eric Shen, our Co-Founder, Chairman and CEO; and Mark Wang, our CFO.
Before management begins their prepared remarks, I would like to remind you that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in our safe harbor statement in our earnings release and the public filings with the Securities and Exchange Commission which also applies to this call to extend any forward-looking statements may be made.
Please note that certain financial measures used on this call such as non-GAAP operating income, non-GAAP net income and non-GAAP net income per ADS are not presented in accordance with U.S. GAAP. Please refer to our earnings release for details relating to the reconciliation of our non-GAAP measures to GAAP measures.
With that, I would now like to turn the call over to Mr. Eric Shen.
Eric Shen
Good morning and good evening, everyone. Welcome and thank you for joining our second quarter 2024 earnings conference call. In the face of multiple headwinds in the external environment, we had a slower momentum in our business. Our team focused on staying agile to respond quickly to external changes and achieving operational excellence.
In the second quarter, sales was under pressure of the high base and aimed cautious customer segment, apparel category held up relatively well. GMV generated from co-brand and SVIP members showed the resilience for the full quarter. We see this as an indication of the fundamental strength of our business. Customer traction remained mounted, reflecting our cautious approach to marketing spends aimed a challenging backdrop.