Key Points
During the quarter, the US-based retailers international sales increased by 17.6% year-on-year to $32.4 billion..
In constant currency terms, sales for the segment grew by 13% YoY to $31.2 billion..
In its earnings statement, Walmart said that the timing of Flipkarts BBD which shifted from Q3 last year to. this year positively affected (international) growth for the quarter..
In India, Flipkarts growth continues to compound in double digits, while PhonePe is now processing more than six billion monthly transactions, chief financial officer John David Rainey said, adding that about three-fourth of its international business growth over the next several years will be driven by India, Mexico and China..
Last week, Walmart hosted its first growth summit in India the only market to hold such an event outside of the US, Chile and Mexico as it aims to tap into new suppliers in the country to meet its target of sourcing $10 billion worth of goods from India annually by 2027..
You might be interested in
Walmart says Flipkart net sales rose in July quarter led by growth in core business
17, Aug, 23Walmarts international segment sales were up 11%, helped by double-digit growth in India among other geographies, said John David Rainey, executive vice president and chief financial officer at Walmart.
Flipkart boosts Walmart’s Q4 international sales
20, Feb, 24India Business News: Flipkart delivered its best big billion days (BBD) in 2023 and boosted Walmart’s international sales growth in Q4FY24. Walmart's international sales increased by 17.6% YoY to $32.4 billion. Flipkart's flagship annual festive sales event BBD attracted a record 1.4 billion customer visits. India, Mexico, and China are expected to drive three-fourth of Walmart's international business growth in the coming years.