Chinese retail giants tried to juice spending with iPhone and Lululemon discounts in an annual shopping bonanza [Business Insider]
JD.com, Inc. - American Depositary Shares (JD)
Last jd.com, inc. - american depositary shares earnings: 3/2 05:03 am
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Source: Business Insider
Alibaba, ByteDance, and JD.com offered large discounts amid an uncertain economic environment. By one measure, 618 sales — a barometer of consumer health — fell nearly 7% year-on-year. China's e-commerce platforms worked hard to attract shoppers during the country's annual 618 shopping festival. But economic troubles got in the way of big sales. The 618 promotion is a weeks-long event from late May to June 18, during which online platforms launch flash sales. This year saw internet companies like Alibaba, ByteDance, and JD.com offering steep discounts to woo Chinese consumers hit by persistent deflation youth unemployment , and the property crisis It's is the second-biggest sale after Singles Day, which takes place in November and is likened to Black Friday in the US . The summer shopping festival is seen as a key indicator of China's general retail temperature — and signs so far this year show that consumer spending is still muted. Related stories In recent weeks, Alibab
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JD
Earnings
- 8/15/24 - Beat
JD
Sec Filings
- 8/27/24 - Form 6-K
- 8/21/24 - Form 6-K
- 8/20/24 - Form SC
- JD's page on the SEC website