Alibaba to Shut Costco-Like China Stores After Rivalry Heats Up

Alibaba Group Holding Ltd. plans to gradually wind down the last of its Costco-like members-only stores, underscoring its retreat from a hyper-competitive Chinese retail arena.

​Alibaba Group Holding Ltd. plans to gradually wind down the last of its Costco-like members-only stores, underscoring its retreat from a hyper-competitive Chinese retail arena.