Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding    BABA

ALIBABA GROUP HOLDING (BABA)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

China sales: Alibaba takes £2bn in minutes on Singles' Day

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 11:33pm CEST

Chinese online shopping giant Alibaba says it took in nearly 20bn yuan (£2.1bn) in sales in a matter of minutes at the opening of its Singles' Day annual discount sale extravaganza.

The event, originally a celebration of China's lonely hearts, has become the world's biggest online shopping spree, with takings beat those of its US equivalents, Black Friday and Cyber Monday, combined.

Alibaba said gross merchandise volume (GMV) exceeded 10bn yuan (£1bn) in a little over three minutes and the total had reached 19.1bn yuan in under six minutes - more than the entire day's sales in 2012.

Nicole Kidman and Pharrell Williams were among the stars who helped get the eighth Singles' Day off to a glittering start.

The actress and the singer joined co-founder and chairman Jack Ma and Chinese musicians and film stars such as Zhang Ziyi and Fan Bingbing in Shanghai to count down to the start at midnight on Friday.

Last year it was David and Victoria Beckham and Kobe Bryant.

As soon as the virtual doors opened, shoppers rushed in to fill up their carts with bargains.

One online retailer is offering a lifetime supply of baijiu liquor for a single payment of 11,111 yuan (£1,275).

The price is a reference to 11.11, the first name given to the day, meant to represent both the date (11 November) and the single people doing the shopping.

An estimated 1.5 billion parcels will need to be delivered over the next week.

The sale is seen as a barometer of Chinese consumer confidence and is closely watched by analysts and investors.

The headline sales number is likely to top last year's total of 113bn yuan (£13bn), an increase of nearly a third from 2015.

(c) Sky News 2017: <a href="http://news.sky.com/story/china-sales-alibaba-takes-1632bn-in-minutes-on-singles-day-11121688">China sales: Alibaba takes £2bn in minutes on Singles' Day</a>, source Sky News

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALIBABA GROUP HOLDING
05:34pSolarWinds shares rise 3.2 percent in downsized market debut
RE
03:30pTransferWise targets Asian faster payments systems in regional growth push
RE
12:16pALIBABA : Robust Ecosystem Supercharges 2018 11.11 Global Shopping Festival
BU
10:42aDeal to bring Norway salmon to more diners
AQ
08:37aAI used to identify sweetness of melons at a store in Hainan
AQ
08:06aAI used to identify sweetness of melons at a store in Hainan
AQ
10/18ALIBABA : uncorks $290 million deal with stake purchase in wine e-tailer 1919.cn
RE
10/18Departure of Asia chief Martello overshadows Nestle's sales rise
RE
10/18JD.com spies profits in China's giant parcel delivery market
RE
10/17SoftBank lines up $9 billion in loans for Vision Fund from banks - Bloomberg
RE
More news
News from SeekingAlpha
07:39aMarket Needs More Fear To Bottom - Cramer's Mad Money (10/18/18) 
06:28aAlibaba lines up 'largest-ever' Single's Day for 2018 
10/18Quick Review Of Chinese Tech Stock Selloff - What Does Mr. Market Know That Y.. 
10/18The Titans Must Not Fall 
10/18Credit Suisse previews Alibaba earnings 
Financials (CNY)
Sales 2019 391 B
EBIT 2019 112 B
Net income 2019 61 072 M
Finance 2019 186 B
Yield 2019 -
P/E ratio 2019 44,02
P/E ratio 2020 29,06
EV / Sales 2019 6,05x
EV / Sales 2020 4,19x
Capitalization 2 554 B
Chart ALIBABA GROUP HOLDING
Duration : Period :
Alibaba Group Holding Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ALIBABA GROUP HOLDING
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 47
Average target price 1 489  CNY
Spread / Average Target 51%
EPS Revisions
Managers
NameTitle
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA GROUP HOLDING-16.40%368 178
JD.COM-41.72%33 466
EBAY-15.95%31 220
SHOPIFY INC (US)34.36%14 343
MERCADOLIBRE-6.33%13 192
RAKUTEN INC-19.25%10 750