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Alibaba's AliExpress Warns of Delivery Delays

Posted by Tom Lee on

Alibaba's AliExpress Warns of Delivery Delays
author: Anthony Russo   

Alibaba Group Holding Ltd.'s (NYSE: BABA) cross-border e-commerce platform AliExpress has issued a warning to its customers, noting that there could be some delivery delays due to the coronavirus epidemic.

"We are working hard to get your parcels delivered, but there may be some delays due to Coronavirus. WHO guidance states that parcels are safe from Coronavirus, but some shipping and logistics are experiencing longer waiting times for processing orders," AliExpress said on its official Twitter account after markets closed Monday.

According to Alibaba's fourth-quarter financial report, AliExpress' GMV during China's largest shopping festival in November, Singles' Day, grew 46% year-over-year. As a whole, Alibaba set a new record during Singles' Day with GMV reaching $38.4 billion.

In the three months through December, Alibaba's revenue reached $23.2 billion, up 38% year-over-year. Net income of Alibaba hit $7.2 billion, or $2.81 per American depositary share, up 49% from the same period in 2018.

Launched in April 2010, AliExpress targets its customers mostly in Russia, the United States, and Brazil. The platforms allow consumers to purchase directly from wholesalers and manufacturers in China and have access to a range of products at wholesale prices.

Last month, Alibaba noted that its revenue could fall for the first quarter in its key e-commerce businesses as the coronavirus outbreak in China has affected its supply chains and deliveries.

In New York, Alibaba was trading nearly 3% lower, at $205.15 per share, by midday Tuesday.

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