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JD stakeGlobalData
•76% Informative
Walmart is selling its 9.4% stake in JD.com to focus on its China operations and Sam’s Club .
GlobalData retail analyst Neil Saunders says Walmart 's decision is not exactly a vote of confidence in Chinese e-commerce firm.
Global data analyst says Walmart will be keen to grow apparel and other categories in China as it ramps up its expansion efforts.
Walmart initially invested in JD.com to capitalise on China ’s booming e-commerce market.
PDD Holding reported a 131% increase in total revenues to 86bn ($ 12bn ) for the first quarter ending 31 March 2024 .
Despite the divestment, the apparel businesses of both Walmart .
are unlikely to see immediate changes as each company remains committed to their respective strategies.
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