Alibaba (BABA) has agreed to sell its Intime department store business to Youngor Fashion for around $1B, Bloomberg reports. The sale is part of an effort by Alibaba to offload non-core assets, Bloomberg notes. Alibaba had reached out to several potential buyers for Intime, people familiar with the matter said earlier this year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA:
- Alibaba (BABA) Faces Potential $1.3B Hit from Intime Department Store Sale
- Three Reasons Why Alibaba (BABA) Is a Top Stock after Its Recent Pullback
- Alibaba Will Ditch Intime in Favor of E-Commerce & AI
- Alphabet, 9 others to buy for 2025, Barron’s says
- AAPL, NVDA, or BABA: Which Tech Giant Could Offer the Highest Upside?