Secoo Holding: Rises as surge in orders boosts Q4 revenue

Secoo Holding

30/04/2020 14:10

**  Shares of Chinese online pre-owned luxury goods retailer
 SECO.O  jump 29.5% to $3.38 premarket; stock set for best day
on record
    ** SECO posts Q4 profit of 1.56 yuan/shr on revenue of 2.04
bln yuan vs. profit of 2.03 yuan/shr on revenue of 1.79 bln yuan
a year earlier  urn:newsml:reuters.com:*:nGNX9dkc6R
    ** Total no. of orders rose by 48.4% to 1.4 mln while no. of
active customers on Secoo platforms increased by ~51% to 612,500
in Q4
    ** "While the current global macro-economic environment is
experiencing a slowdown, we are confident in the long-term
demand resiliency for luxury goods and services and in our
ability to capture the emerging opportunities in the upscale
shopping and lifestyle industry" - Richard Rixue Li, Chairman
and CEO
    ** Co also approved share repurchase program of up to $20
mln during the next twelve-month period, starting from April 30
 urn:newsml:reuters.com:*:nGNX4wl3yM
    ** More than 168,259 shares traded premarket, 2.3 times
their 25-day moving avg
    ** Up to Wednesday's close, stock had fallen 55.68% this
year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))