Alibaba's supermarket Freshippo records 9 straight months of profit, CEO says [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
nine straight months in 2024, the unit's chief executive Yan Xiaolei said in an internal letter on Tuesday. The supermarket opened 72 new stores across China in the past year, averaging one every five days, the most in five years, according to Yan, who assumed the CEO role in March. The additions brought the total number of Freshippo outlets to 400, spanning 50 cities, Yan said in the letter, which was seen by the Post and confirmed by employees. A third of the new stores were located in non-first-tier cities, according to a report from Chinese media Jiemian. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Founded in 2015, Freshippo previously reported quarterly profits in the fourth quarter of 2022 and the first quarter of 2023. Alibaba, owner of the South China Morning Post, pos
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