Walmart International’s margins squeezed by Flipkart, Myntra quick commerce bets

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Walmart International’s gross profit rate slipped in the June quarter, weighed down by rising investments in India’s fast-growing quick commerce market through Flipkart and Myntra.

“In International, gross profit rate declined with continued pressure from channel and format mix, as well as strategic investments in price across markets and our quick commerce capabilities in India,” said John David Rainey, chief financial officer and executive vice president, Walmart, on the company’s April–June earnings call.

Kathryn McLay, president and CEO…



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Walmart International’s margins squeezed by Flipkart, Myntra quick commerce bets



Walmart International’s gross profit rate slipped in the June quarter, weighed down by rising investments in India’s fast-growing quick commerce market through Flipkart and Myntra.

“In International, gross profit rate declined with continued pressure from channel and format mix, as well as strategic investments in price across markets and our quick commerce capabilities in India,” said John David Rainey, chief financial officer and executive vice president, Walmart, on the company’s April–June earnings call.

Kathryn McLay, president and CEO…



Source link

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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