Tag: E-Commerce Discretionary

 Amazon shares fell almost 8% in early trading in Frankfurt on Friday after reporting slowing online sales growth in the second quarter and noting consumers were seeking out cheaper options for purchases.

Alibaba stock was climbing early Monday after reports that the Chinese internet retailer was set to raise fees.

Warner Bros. Discovery notified the NBA on Monday that it will pay roughly $1.8 billion per year to match an offer from Amazon to carry a package of the league’s games, setting up a last-second buzzer-beating attempt by TNT’s parent company to retain the broadcast rights to the games.

Fast fashion retailer Shein said it would invest 250 million euros ($271 million) over five years in the UK and Europe as the company battles criticism of its model based around flying cheap clothes and accessories from factories in China direct to shoppers worldwide.

The European Commission said on Friday it had requesting Amazon provide more information on the measures the U.S. e-commerce giant has taken to comply with its Digital Services Act (DSA) obligations.

Amazon’s international arm is on track to swing to an annual profit as moves to streamline the retailer’s logistics operations bear fruit after years of losses. The $131bn unit, which serves Amazon’s customers outside North America, looks set to report an operating profit of $1.6bn this year, rising to more than $5bn next, according to analysts in a recent Refinitiv poll.

Italian payments group Nexi said it had signed a partnership with Amazon’s local arm allowing clients of the e-commerce giant to shop on its Italian website paying with a local debit card service dubbed BANCOMAT Pay.

Amazon plans to launch a new section on its site dedicated to low-priced fashion and lifestyle items that will allow Chinese sellers to ship directly to U.S. consumers, CNBC has learned.

Walmart Inc. and Amazon.com Inc. have announced their competing summer shopping events, offering discounts on a wide range of goods to inflation-weary consumers.

Fast fashion giant Shein has confidentially filed for a public listing in London, a person familiar with the matter told CNBC.

Europe’s biggest food delivery firm Just Eat Takeaway said on Wednesday it has struck a deal to offer Amazon Prime members in Germany, Austria and Spain free delivery of food orders above 15 euros ($16.13).

Temu will have to comply with stricter EU online content rules after its user numbers exceeded a key criterion, the European Commission said on Friday, putting the PDD Group’s fast-fashion e-commerce retailer in a group that includes Amazon ,Meta Platforms and TikTok.

Hong Kong-listed shares of Alibaba fell over 5% Thursday following a report that the Chinese tech giant is considering selling convertible bonds to raise $5 billion.

PDD Holdings stock surged early Wednesday after the Temu owner comfortably beat earnings and revenue estimates in the first quarter as Chinese and global consumers continued to flock to its discount e-commerce platforms.

Tech giant Amazon’s cloud computing unit AWS will invest 15.7 billion euros ($17.02 billion) in data centres in Spain’s northeastern Aragon region, it said on Wednesday, significantly boosting its expansion plan in the country.

JD.com stock rallied on Thursday after the Chinese e-commerce company reported first-quarter results well above Wall Street’s expectations.

Alibaba stock dropped on Tuesday after the Chinese e-commerce company reported March quarter earnings below Wall Street’s estimates, though revenue was above expectations.

The bargain app Temu, which has gained spectacular popularity with American consumers, is shifting business priorities beyond the U.S., people close to the company said. 

Fast-fashion giant Shein is stepping up preparations for a London listing after its attempt to float itself in New York faced regulatory hurdles and pushback from U.S. lawmakers, two people with knowledge of the matter said.

Amazon reported better-than-expected earnings and revenue for the first quarter, driven by growth in advertising and cloud computing. The stock ticked higher in extended trading.