Retail in Asia

In Trends

China’s Alibaba.com profit slides 25pc on slowing subscriptions

Alibaba.com has said its profit in the first quarter dipped by 25 percent amid falling membership sales and higher operating costs.

It reported a net profit of CNY339.2 million (USD54m) for the period, down from CNY452.2 a year earlier.

The firm, which connects buyers and suppliers, said numbers of paid members fell as it imposed strict control over businesses that list on its website.
 

(Source: BBC News )