Baozun Sinks 13% as Singles Day Orders Growth Decelerated
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Baozun said total order value for Singles Day was a record RMB6.55 billion, or up 31 percent from last year’s figure. The growth paled in comparison to the doubling that the company has reported in each of the prior two years.
Baozun’s ADRs plunged more than 13 percent in pre-market trading.