In a filing with the Securities and Exchange Commission (SEC) Tuesday, e-commerce giant Alibaba Group announced that it had “become the largest retail economy in the world” at the end of its fiscal year on March 31, “as measured by gross merchandise volume (GMV) on its China retail marketplaces.” The company has yet to declare its financial results for its last quarter and the complete fiscal year, but the announcement makes it clear that it surpassed the $482.1 billion figure reported by Wal-Mart Stores Inc. for its fiscal year ended Jan. 31.
