Temu parent PDD Holdings is taking strain at home while its international business has been hit by global trade uncertainty.
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Temu owner PDD Holdings has become the latest company to surprise investors with a gloomy outlook.
Amazon plans to launch an online storefront for low-priced apparel and home goods.
PDD Holdings more than doubled revenue after deepening inroads into countries including South Africa.
South African retailers are complaining that Temu has used import tax loopholes to undercut local companies.