Alibaba's Singles Day sales missed expectations due to hot weather: Jack Ma

04:00:00 PM, Thursday 14th of November 2019 | in business

Alibaba co-founder Jack Ma said the company’s Singles Day performance missed expectations and blamed the hot weather and the fact the huge shopping event fell on a weekday. The company collected gross merchandise value (GMV) of 268.4 billion yuan or over $38.3 billion, setting a new record. Ma said that he was happy that the GMV surpassed the analyst estimate. He was disappointed that the govt didn't give people half-day for sale.