Retail News

Alibaba cuts annual sales forecast

Reuters/U.S. News & World Report 11/19/2021

Alibaba Group Holding Ltd said it now expects revenue for the year to rise between 20 and 23 percent, down from its earlier guidance 29.5 percent. The company pointed to supply disruptions and a more cautious Chinese consumer in the face of COVID-19 as factors for its change.

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