BZUN Q1 Preview: Eroding GMV Quality, Margin Squeeze by Top Customers
Our negative view on Baozun Inc. (BZUN US) stems from the company’s declining profit margin due to eroding pricing power to key customers, and...
650 Views
Chinese Ecommerce Q4 Earnings Previews: BABA (+); JD (-); BZUN (-)Related - GOOS (+)
Investors have started to show widening divergence in macro views and consequent equity strategies in 2019. Bulls believe that capital markets are...
564 Views
Baozun - Customer Disintermediation Due to Obsolete Business Moat - SELL
We cut Q4 2018 GMV from 50% to 35% YoY, given Baozun Inc. (BZUN US) catastrophic miss last weekend during the 11.11 holiday sales. We estimate...
908 Views
Canada Goose China Momentum to Accelerate; Nice Contract Win for Baozun
Canada Goose Holdings Inc (GOOS US) announced today plans to open direct-to-consumer (DTC) flagship stores in Beijing and HK. Both stores will...
354 Views
Q2 Top Long and Short Ideas: GOOS, BZUN, Macau Gaming, JD, and MOMO
Top Long - Canada Goose Holdings Inc (GOOS US):  Long thesis is GOOS’ global under-penetration and margin expansion as the business goes from...
331 Views