Tag: E-Commerce Discretionary

Chinese online retailer accumulates biggest net cash position of any listed group not to pay dividends or buy back shares

Alibaba has completed a three-year regulatory “rectification” process following an antitrust fine it received on charges of monopolistic practices in 2021, China’s market regulator said on Friday.

Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday.

 China’s PDD Holdings missed market estimates for quarterly revenue on Monday, as reduced consumer spending dented business at its domestic e-commerce platform Pinduoduo, sending the company’s shares down 15% in pre-market trading.

Alibaba missed top and bottom line expectations for the June quarter of 2024 as it continues to face headwinds in its core e-commerce business amid rising competition and a cautious Chinese consumer.

Shares of Shopify were charging sharply higher Wednesday after the e-commerce platform turned in a strong quarterly report.

 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.