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        MarketScreener Homepage  >  Equities  >  Tokyo  >  Fast Retailing Co., Ltd.    9983   JP3802300008

        FAST RETAILING CO., LTD.

        (9983)
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        Alibaba's Singles' Day sales hit record $38 billion; growth slows

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        11/11/2019 | 07:56pm EST
        The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou

        HANGZHOU, China (Reuters) - Chinese retailer Alibaba Group Holding Ltd's sales for its 24-hour Singles' Day shopping blitz hit a record $38.4 billion, more than U.S. rival Amazon.com Inc haul last quarter from online store sales.

        But sales growth for the annual shopping festival eased to 26%, the weakest since the event started in 2009, held back by a slowing e-commerce industry in China as the country's economic expansion heads toward a historic low.


        The eventhttps://tmsnrt.rs/2WTFm7V, a gauge of Chinese consumer sentiment, has also become a shop window this year for Alibaba as it plans to sell $15 billion worth of shares in Hong Kong this month. The U.S.-listed firm has spent big to diversify its business yet still earns over four-fifths of revenue from e-commerce.

        Alibaba turned China's informal Singles' Day into a shopping event in 2009 and built it into the world's biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year. The name is a play on the date, Nov. 11, rendered 11/11 - or Double Eleven, as the event is also known.

        The event has since been replicated at home and abroad, with Singles' Day promotions found at rivals such as China's JD.com Inc and Pinduoduo Inc as well as South Korea's 11thStreet and Singapore's Qoo10.

        Alibaba said on Monday its gross merchandise volume or GMV for the whole event came in at 268.4 billion yuan ($38.4 billion), up 26% from last year but below Citic Securities' forecasts for a 20-25% expansion.

        In 2018, it posted a 27% sales increase.


        (Graphic: A look at Alibaba's "Double 11" shopping day -https://tmsnrt.rs/2WTFm7V

        CELEBRITY START

        The Chinese retail juggernaut, with a market value of $486 billion, kicked off this year's 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.

        The firm said 84 brands including those of Apple Inc , L'Oreal SA and Fast Retailing Co Ltd's Uniqlo each made over 100 million yuan in sales in the first hour.

        Over half of merchants on its Tmall marketplace used live streaming to sell products during the event, and sales generated through the medium surpassed 10 billion yuan at 8.55 a.m. (0055 GMT), Alibaba said.

        "Nearly all our brands have opted for livestreaming promotions some time this year," says Josh Gardner, who helps overseas companies sell products on Tmall as CEO of Kung Fu Data.

        "It's more entertaining than browsing through a product detail page. Traffic from livestreaming is easy to convert into transactions, and Tmall has supported stores that run livestreaming activities with resources."

        One vendor, New Zealand-based nutritional supplement maker Clinicians, broadcast livestreams from a booth set up on Alibaba's campus. According to Carlos Zhao, China market manager, the company has seen a 40% jump in sales after it started livestreaming in China six months ago.

        "This is a product form from new Zealand, everything is in English, and so many people are selling similar products, so customers wonder, 'Which one do I choose from?'" he told Reuters. "Having a livestreamer can help to break those barriers."

        Tmall has said it expects over 500 million users to make purchases this year, about 100 million more than last year. It has also put more emphasis this year on promotions targeting areas outside of China's massive first- and second-tier cities.

        "The younger generation is buying more, and the customer from rural areas, the customers from lower-tier cities, they are buying imported products," Tmall General Manager Alvin Liu told reporters.

        Singles' Day is known to be a stressful time for Alibaba employees with workers sleeping at the office to keep up with orders.

        This year, at Alibaba's campus in Hangzhou, workers bustle around in red t-shirts with the slogan 'Make 11 happen'.

        Percussion echoes through halls as departments bang large drums each time a sales record is broken. Pink rice cakes – dingshenggao, or 'victory cakes' eaten by Yue Army soldiers during the Song Dynasty - fill the office snack bars.

        This is the first time Alibaba's Singles' Day is being held since its flamboyant co-founder Jack Ma resigned as chairman in September to "start a new life".

        (Reporting by Josh Horwitz in Hangzhou; Additional reporting by Brenda Goh in Shanghai and Cheng Leng in Beijing; Editing by Christopher Cushing, Emelia Sithole-Matarise and Himani Sarkar)

        By Josh Horwitz

        Stocks mentioned in the article
        ChangeLast1st jan.
        AMAZON.COM -0.80% 1771.65 Delayed Quote.18.90%
        APPLE INC. 0.79% 262.2 Delayed Quote.64.92%
        FAST RETAILING CO., LTD. -0.87% 67580 End-of-day quote.24.92%
        JD.COM, INC. -0.06% 33.21 Delayed Quote.58.67%
        L'ORÉAL -0.27% 262.3 Real-time Quote.30.72%
        PINDUODUO INC. -3.03% 41.92 Delayed Quote.86.81%
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        Financials (JPY)
        Sales 2020 2 441 B
        EBIT 2020 288 B
        Net income 2020 189 B
        Finance 2020 566 B
        Yield 2020 0,78%
        P/E ratio 2020 37,2x
        P/E ratio 2021 33,4x
        EV / Sales2020 2,64x
        EV / Sales2021 2,35x
        Capitalization 7 008 B
        Technical analysis trends FAST RETAILING CO., LTD.
        Short TermMid-TermLong Term
        TrendsBullishNeutralBullish
        Income Statement Evolution
        Consensus
        Sell
        Buy
        Mean consensus HOLD
        Number of Analysts 15
        Average target price 65 726,67  JPY
        Last Close Price 68 660,00  JPY
        Spread / Highest target 12,1%
        Spread / Average Target -4,27%
        Spread / Lowest Target -27,2%
        EPS Revisions
        Managers
        NameTitle
        Tadashi Yanai Chairman, President & Group CEO
        Takeshi Okazaki CFO, Director & Group Senior Executive Officer
        Masaaki Shintaku Independent Outside Director
        Toru Hambayashi Independent Outside Director
        Nobumichi Hattori Independent Outside Director
        Sector and Competitors
        1st jan.Capitalization (M$)
        FAST RETAILING CO., LTD.24.92%64 260
        INDUSTRIA DE DISEÑO TEXTIL, S.A.23.49%98 208
        KERING26.48%72 267
        ROSS STORES34.83%40 608
        HENNES & MAURITZ53.64%33 987
        BURBERRY GROUP PLC17.37%10 889
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