The US retail giant sold its stake in the Chinese e-commerce giant to focus on its own operations in China, ending an eight-year marriage Key findings: Walmart sold its stake in JD.com at a time when its Chinese business is benefiting from a growing local preference for Costco’s warehouse-style shopping. JD.com continues to face strong […]
Walmart signaled it is reducing its investments in China by selling 144.5 million shares of JD.com worth about $3.7 billion. The sale took place on Wednesday, ending its eight-year partnership with the retail giant. The world has changed since Walmart first acquired a stake in Chinese e-commerce platform JD.com in 2016. Walmart increased its stake […]
HIGHLIGHTS — Walmart is making financial news this week after the mega-retailer sold its stake in JD.com, Inc., a Chinese e-commerce company, ending an eight-year partnership between the two companies. According to several news sources, including Reuters and Bloomberg, Walmart raised about $3.6 billion from the sale of its stake in the company. Reuters reports […]
Walmart Inc. has enjoyed such success due to its strong China business that the company has dissolved a long-standing local partnership – an outsider in a consumer landscape that is increasingly hostile to foreign brands. While other Western consumer goods giants are leaving China or losing market share to local rivals, the U.S. retailer remains […]
Shares of JD.com Inc. fell about 8 percent on the Hong Kong stock exchange and lost more than 8 percent in early morning trading on the Nasdaq after retail giant Walmart Inc. announced the sale of its entire stake in the Chinese e-commerce company. Walmart expects the sale will help it focus on its strong […]
Walmart has sold its shares in Chinese e-commerce company JD.comand ended its direct investments in the Alibaba Rival after more than eight years. The relationship began when Walmart sold its Chinese e-commerce operations to JD.com in June 2016, 5% share in the company as part of the deal. By February 2017, Walmart had increased its […]
Walmart has sold its entire stake in Chinese e-commerce giant JD.com. The move, announced in a securities filing on Tuesday (August 20), comes as Walmart increases its own focus on the Chinese retail sector. According to JD.com’s 2023 annual report, Walmart owned a nearly 10% stake in the company at the end of last year. […]
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 long-time e-commerce partner is struggling as are major competitors Alibaba Group Holding And PDD investmentsOwner […]
