Alibaba agrees to sell its Intime department store business, part of a plan to unify online and offline retailing in 2017, for ~$1B, taking a record $1.3B loss (Bloomberg)

Bloomberg:
Alibaba agrees to sell its Intime department store business, part of a plan to unify online and offline retailing in 2017, for ~$1B, taking a record $1.3B loss  —  – Chinese tech company agrees to sell Intime to Youngor Fashion  — Alibaba has pivoted toward consolidating its core businesses