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Retail

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Alibaba is on the up and up. Another successful business quarter has been chalked up, seeing the Chinese e-commerce giant's profits almost double. The net profits were up to $2.1 billion for the quarter finishing 30 June 2019. Year-on-year, that's a whopping 96% growth.

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Deliveroo is pulling out of Germany. Consumers in the middle-European country don't make orders as often as consumers in the UK or the Middle East. Even though Deliveroo is backed by the deep pockets of Amazon.com Inc., this abrupt stop to their delivery service from Germany comes after 4 years of trying. Deliveroo is the latest in an ever increasingly cut-throat industry.

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The online retailer Otto is getting together with the shopping centre operator, ECE. In a new joint venture called Stocksquare, they want to link offline and online shopping. The goal in mind is to give offline sales a boost at ECE shopping centres and to expand Otto's online assortment. The two major German companies partnering up isn't a surprise, because both are a part of Otto Group.

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Apple has rolled out its Apple Card. In a partnership with Goldman Sachs, the preview has launched this week, with the card becoming widely available to all iPhone owners in the U.S. later this month. CEO Tim Cook said the card would arrive in August on the company's last earning call, which was confirmed at the end of last month.

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Zalando is showing strong growth in the second quarter, chalking up its fastest growth since 2013. They may have had problems in the past, but this positive news for the Berlin-based online fashion retailer shows that they can bounce back without much trouble.

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Netherland's food delivery group, Takeaway confirms that they want to acquire its British competitor Just Eat. If they successfully strike a deal, combining their forces will see them become one of the largest food delivery companies in the entire world. This planned acquisition isn't the first time that Takeaway was present in the UK market, entering it in 2012. They sold that presence to Just Eat 4 years later.

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