China's Alibaba says to sell department store arm for $1.3 bn loss
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Alibaba is selling its department store chain Intime at a $1.3 billion loss as it streamlines operations amid fierce competition in China's e-commerce market.
December 17, 2024 | 5:45 pm
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Alibaba is selling its department store chain Intime at a $1.3 billion loss, indicating a strategic move to streamline operations amid intense competition in China's e-commerce market.
The sale of Intime at a significant loss suggests Alibaba is focusing on core operations to better compete in the e-commerce market. This could be seen as a negative short-term impact on stock prices due to the financial loss and potential concerns about Alibaba's market strategy.
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