Walmart’s sales increased 7.1% in the third quarter, helped by Flipkart’s “Big Billion Days” campaign

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Walmart International, a major US retailer, saw a 7.1% YoY increase in net sales during the third quarter that ended on October 31.

Ecommerce sales, which were $5.9 billion, increased by 400 basis points (bps) year over year to account for 23% of total sales during the quarter, primarily due to Flipkart. According to a statement from Walmart, the growth was aided by the Big Billion Days, Flipkart’s signature holiday sale in India, moving from Q4 to Q3 this year. Flipkart’s performance during the quarter received high praise from Walmart, which also noted that the Indian ecommerce company continues to perform up to expectations. Due to rising operating expenses, the US retail giant’s Q3 net loss was almost $1.8 billion compared to the same quarter last year’s profit of $3.1 billion.

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Walmart’s sales increased 7.1% in the third quarter, helped by Flipkart’s “Big Billion Days” campaign

Walmart International, a major US retailer, saw a 7.1% YoY increase in net sales during the third quarter that ended on October 31.

Ecommerce sales, which were $5.9 billion, increased by 400 basis points (bps) year over year to account for 23% of total sales during the quarter, primarily due to Flipkart. According to a statement from Walmart, the growth was aided by the Big Billion Days, Flipkart’s signature holiday sale in India, moving from Q4 to Q3 this year. Flipkart’s performance during the quarter received high praise from Walmart, which also noted that the Indian ecommerce company continues to perform up to expectations. Due to rising operating expenses, the US retail giant’s Q3 net loss was almost $1.8 billion compared to the same quarter last year’s profit of $3.1 billion.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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