The sale will result in a $1.3b loss as Alibaba shifts focus back to its core e-commerce business. Alibaba Group has announced it will sell its Chinese department store chain, Intime, in a deal ...

Alibaba expects to record losses of around 9.3 billion yuan related to the sale. Shares of the online shopping giant were last down 1.9% at 82.75 Hong Kong dollars in afternoon trade.

Alibaba 9988 2.93% Group is folding its food-delivery and online-travel services into its core e-commerce unit, streamlining operations in the face of ever fiercer competition. “This marks a ...

By contrast, the Alibaba Group has a workforce of around 200,000 and JD.com's workforce stood at 517,000 including 355,000 delivery personnel.

Alibaba Group Holding is selling its stake in Chinese department store chain Intime for 7.4 billion yuan ($1 billion), which will lead to record losses of 9.3 billion yuan.