JD.Com (JD) Stock Higher Today Ahead of 'Singles' Day' Shopping Event in China

NEW YORK (TheStreet) -- Shares of JD.Com Inc. (JD) are up 6.14% to $26.26 today ahead of tomorrow's "Singles' Day," the largest online shopping event of the year in China.

JD.com, a Chinese online direct sales company, reported revenue of $1.6 billion last year during its "Singles' Day" promotion period that started November 1, 2013, according to Bloomberg.

This year the company announced its promotional slogan "Real, Good, Cheap," Barron's reports, adding JD has established a 10 million yuan guarantee fund to refund customers if they buy fake products.

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Additionally, JD.com showcased its in-house delivery distribution network by promising to deliver the same day if payment was made before 11 a.m., Barron's added.

JD will compete with Alibaba Group (BABA) , which processed 36.2 billion yuan ($5.8 billion) in gross merchandise volume last year, processing 254 million orders within 24 hours and handling 156 million packages, Barron's reported.

JD Chart JD data by YCharts

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