Alibaba reports stellar sales growth in first quarter


Online retail giant Alibaba has posted a 59 per cent increase in first-quarter sales to £3.7 billion, making it its highest quarterly sales growth on record since its flotation in 2014.

The Chinese company‘s stellar growth for the quarter to June 30 was bolstered by a 49 per cent spike in sales across all of its retail marketplaces, with mobile shoppers outnumbering desktop consumers.

Adjusted EBITA during the quarter also went up by 61 per cent to £1.9bn.

In addition, over 8700 new retail stores were opened on Alibaba‘s Tmall platform — with Sainsbury‘s being one of the most recent additions.

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Chief executive Daniel Zhang said his company has had an “outstanding” quarter. 

“The acceleration of our revenue growth reflects the deep value propositions that we bring to our customers,” he said.

“We are changing the way our 434 million active buyers engage with our platform, as we introduce social, community and personalization driven by smart data into our e-commerce marketplaces. 

“We are poised for strong profitable growth into the future.”

In October last year, Alibaba hired former Staples executive Amee Chande as the first managing director of its UK division.

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