JD Sports Fashion showed on Thursday how even the strongest companies can face tough times with an update for the 53 weeks to 3 February (FY24) showing tepid sales growth in some areas, and especially in Q4. Total sales were £10.5 billion, up 3.6% on the previous year, although this included a negative 6.2% impact … Read more
Footasylum Executive Chair and CEO Barry Bown has handed over control of the sports and streetwear business to David Pujolar who has just joined as CEO. Footasylum Bown has stepped down from his post at the helm of the business to take up a consultancy role with Aurelius, Footasylum’s owner. He’d originally joined the company … Read more
JD Worldwide, the import and export shopping platform under China’s JD.com, has announced the launch of its first self-operated direct procurement warehouse for fashion goods in Paris, France. JD.com Located in the suburbs of Paris in Val-d’Oise, the new facility is dedicated to housing fashion merchandise from France, Germany, the United Kingdom, Italy, and Spain, among other European countries. It features an extensive range … Read more
Fallen star JD sports saw as much as £1.8 billion being wiped off its market value this week as shareholders rushed to sell their shares on the back of the company’s profit warning. At one point on Thursday, the shares that are traded on the London Stock Exchange were down almost 24% although they ended … Read more
Douyin, the Chinese version of TikTok that is betting big on e-commerce, has made its “express refund” policy mandatory, forcing merchants to immediately return money to consumers upon request to compete with similar offerings on Taobao and Pinduoduo. The platform operated by Beijing-based ByteDance, which added a shopping channel in 2019, allows users to get … Read more
By Reuters Published Jan 1, 2024 Chinese online retailer JD.com said on Friday that it won a lawsuit against rival Alibaba, which was fined 1 billion yuan ($140.68 million) for monopolistic practices. Reuters The High People’s Court of Beijing ruled that Alibaba Group Holding Limited along with Zhejiang Tmall Network Co and Zhejiang Tmall Technology … Read more
By Reuters Published Dec 13, 2023 The founder of JD.com told staff he acknowledged the e-commerce giant was too large and inefficient and vowed to instil change, in response to a staff complaint about problems with the platform amid intensifying competition. Reuters Richard Liu made the comments in an internal staff forum in response to … Read more
