Digital transactions now account for 37% of Nordstrom’s total sales
Digital sales are rising steadily Nordstromand shows a steady upward trend. During the Second quarter results In a conference call on Tuesday (Aug. 27), CEO Erik Nordstrom said digital sales rose 6.2% and now accounted for 37% of total sales,…
PPD stock sell-off costs founder $14 billion
Colin Huang’s reign as China’s richest man lasted only about two weeks. A plunge in shares of PDD Holdings Inc., the parent company of e-commerce giant Temu, on Monday saw Huang’s wealth plunge by $14.1 billion, his biggest single-day loss…
Temu share price collapses due to fear of fierce competitors and state control
Shares of PDD Holdings, the parent company of fast-growing shopping app Temu, fell more than 30 percent on Monday, losing more than $50 billion in market value, after the e-commerce giant reported disappointing revenue figures and management warned of strong…
Red Lobster announces new CEO after bankruptcy filing
Red Lobster struggled last year and made headlines after it filed for bankruptcy, blaming at least in part on a poorly thought-out endless shrimp deal. It happens to the best of us. Naturally, the fast-casual seafood restaurant chain was looking…
Walmart confirms sale of its shares in Chinese company JD.com
JD.com’s Hong Kong-listed shares fell 11% at market open on Wednesday, August 21, 2024. Image credit: Sergei Elagin/Shutterstock. US-based multinational retailer Walmart has sold its stake in Chinese e-commerce company JD.com to raise $3.74 billion, according to a term sheet…
Walmart is expected to raise $3.6 billion by selling its stake in JD.com, ending the 8-year partnership
JD.com’s Hong KongThe listed shares fell 10 percent to HK$101.10 as of 2:23 p.m. local time on Wednesday, triggering a broader sell-off in Chinese e-commerce and technology stocks. Walmart is refining its strategy in the world’s second-largest economy, where its…
Walmart is expected to raise $3.6 billion by selling its stake in JD.com, ending the 8-year partnership
JD.com’s Hong KongThe listed shares fell 10 percent to HK$101.10 as of 2:23 p.m. local time on Wednesday, triggering a broader sell-off in Chinese e-commerce and technology stocks. Walmart is refining its strategy in the world’s second-largest economy, where its…
E-commerce now accounts for 15.2% of retail sales while growth slows
If there was one catchphrase that was mentioned in the results comments and presentations in recent weeks, it was this: Normalization. Credit card companies And Banks and even some retailers have given the indication that the peaks of the pandemic…
Can China’s tech giants survive without consumers?
Last week’s earnings reports from Chinese technology companies should be a wake-up call for Beijing. Alibaba Group Holding Ltd. and JD.com Inc. pulled out all the stops to get customers to spend during their 618 shopping festival, a Black Friday-like…
Chinese tech giants use AI for online interactions
China’s leading technology companies are increasingly integrating artificial intelligence (AI) into their services, transforming the way millions of people interact, learn and work online. The integration of AI, particularly in social media, education and workplace tools, is significantly reshaping China’s…
