Alibaba to take $1.3B loss on department store sale

Tue, Dec 17, 2024, 9:48 AM

Chinese e-commerce giant Alibaba (BABA) is taking a $1.3 billion financial hit after selling its department store InTime to a consortium including retailer Youngor Fashion (600177.SS). The strategic divestment signals the company's ongoing restructuring efforts to refocus on its core business operations.

Morning Brief hosts Seana Smith and Brad Smith break down the details.

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This post was written by Angel Smith