Alibaba says 15% of China delivery areas were disrupted during Singles Day shopping festival
Alibaba broke tradition by not releasing total sales for its Singles' Day shopping festival this year. Pictured here are advertisements for the festival in a Shanghai subway station on Nov. 10, 2022. Bloomberg | Bloomberg | Getty Images BEIJING — China's Covid controls disrupted Alibaba 's ability to deliver packages, the company said, dragging down the e-commerce giant's sales in a competitive market. "The resurgence of Covid has affected one area after another, resulting in abnormal or suspended logistic service in different places," Alibaba CEO Daniel Zhang said during a quarterly earnings call Thursday, according to FactSet. "This hurt merchant operations and consumer logistics experience." related investing news Nvidia's results suggest its gaming business is close to a bottom, analysts say Samantha Subin 17 hours ago Disruptions affected nearly 15% of delivery areas in China starting in October and through the 11.11 shopping festival...