What: Luxury brands continue to open flagship stores on the platform leading to positive outlooks for the Chinese e-commerce platform.

Why it is important: JD.com surpasses expectations and demonstrates omnichannel strength through continued luxury brand partnerships and the opening of offline stores in five major cities in China.

The second largest Chinese e-commerce platform after Alibaba, JD.com logged a 5.4% increase in net revenue beating analysts’ average estimates. Income from operations for the period was 3.8 billion renminbi, or 555.1 million USD, compared to 300 million renminbi for the same period last year. In comparison, JD.com’s rival Alibaba has reported a plunge of 53% in net income.

JD.com beats Q2 estimates