China's JD.com Looks To Warehousing Assets To Help Revive Profits
China's second-largest e-commerce firm, JD.com Inc, said it is shifting management of its warehousing assets to a separate unit, in a move it hopes will revive profits after it swung back to a loss in April-June.
JD.com, which counts Tencent Holdings Ltd, Walmart Inc and Alphabet Inc's Google as investors, has been in and out of the red for the past year and reported a second-quarter net loss of $334.4 million this week.
That was nearly double forecasts for a $177 million loss in a Thomson Reuters I/B/E/S poll of 18 analysts and reflected increased investments and slower sales.
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