Alibaba Group's share price reached new highs, trading above $115 a share and reaching a market capitalization above $280 billion, after reporting strong results for the third quarter ended Sept. 30 and announcing that it generated record sales of $9.3 billion through its marketplaces on Nov. 11 in connection with its annual 11.11 Shopping Festival, known also as Singles' Day, compared with $5.8 billion in total online sales on the same day a year ago in China. The North Face was mentioned among the participants in the event, which is regarded as the world's largest online shopping day. The Chinese internet platform's total revenues were up by 53.7 percent to 16.83 billion renmimbi (€2,210.81m-$2,747.47m) in the third quarter, driven by an increase in the share of transactions made through mobile devices to 35 percent of sales from 14 percent a year ago. The operating margin (Ebitda) declined to 50.5 percent from 59.4 percent, but net profits increase by 15.5 percent to RMB 6,808 million (€894.36m-$1,111.49m).

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