Why Baozun Stock Jumped Today

Shares of Baozun (NASDAQ: BZUN) were surging today after the Chinese e-commerce services provider delivered better-than-expected results in its first-quarter earnings report. Baozun reported another decline in revenue in the quarter with sales down 1.8% to $313 million, though services revenue jumped 24.3% to $205.6 million as the company continues to pivot away from first-party sales to higher-margin services. Total gross merchandise volume in the quarter grew 28.4% to $25.6 million, but revenue still declined in its non-distribution business, which has a lower take rate from its distribution business.