|Day's range||0.2400 - 0.2400|
Shares of Baozun (NASDAQ: BZUN) were falling today after the Chinese e-commerce services provider posted disappointing results in its fourth-quarter earnings report, missing estimates on the top and bottom lines. Baozun has been struggling for years with its own challenges, and like other Chinese e-commerce companies, it has been tripped up by COVID-19 lockdowns in China recently. Service revenue, which now makes up the majority of the company's business, fell 8.3% to $258.2 million.
The Cricut electronic cutting machine was a natural winner with its ability to punch patterns into paper, vinyl, greeting card stock, and other flat objects. This should be a great time for Stitch Fix, in theory.
Chinese stocks broadly are responding positively to some regulatory news and more bullishness around the sector.