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A disappointing growth forecast from Alibaba helped push down the internet giants shares again while those of rival JD.com jumped, reflecting the two Chinese e-commerce companies diverging fortunes.
The retail behemoth said it expects its fiscal 2022 revenue to increase by 20% to 23%, down from its forecast of about 30% in May.
The e-commerce giant posted lackluster earnings for its latest quarter and has suffered from Chinas crackdown on technology companies. Another crackdown on the housing sector may also deal collateral damage.
An activist investor has pressed the department-store chain to follow the path of Saks Fifth Avenue in spinning off the fast-growing segment. The announcement came as Macys posted another quarter of strong sales growth.
Walmarts comparable sales jumped 9.2% in the latest quarter and the retailer says it has plenty of inventory despite global supply-chain problems.
A tight labor market that is driving up employee costs is expected to weigh on the e-commerce and cloud-computing companys bottom line.
Companies look to save long-term costs while making a bet on commercial real estates hottest sector.
The regional airline is planning to test home delivery of food and beverages in Nevada by the end of the year, as it considers the potential for nationwide service.
The payoff for Amazon from its growing lineup of devices is likely significant, though financial details have never been reported.
Tencent says it will gradually remove some competitive barriers from its WeChat service, including making it easier for users to share e-commerce listings from major rival Alibaba on the messaging app.