Flipkart' Big Billion Days Drives Walmart's International Sales In Q4 FY 2024
Walmart, which follows a February-January financial calendar, reported $32.4 billion sales from its international business, a growth of 17.6%, according to the latest earnings statement.
The U.S. retail giant Walmart's international sales in the fourth quarter got a boost from 'The Big Billion Days' sales by its Indian e-commerce arm Flipkart.
Walmart, which follows a February-January financial calendar, reported $32.4 billion sales from its international business, a growth of 17.6%, according to the latest earnings statement.
"Timing of Flipkart's The Big Billion Days positively affected growth for Q4," Walmart said.
Besides, growth in net sales was also led by its Mexico Walmex, and China, helped by strong growth of festive events, it added.
Flipkart's 'The Big Billion Days' event started on Oct. 8 and ended on Oct. 15, witnessing a record 1.4 billion customers visit on its platform during its flagship festival sales event.
Walmart operates approximately 10,500 stores and clubs in 19 countries and e-commerce websites.
For the fourth quarter, Walmart Inc's consolidated revenue was at $173.4 billion, up 5.7%. For the full year, Walmart Inc's consolidated revenue was at $648.1 billion, up 6 per cent.
Walmart had acquired a 77% controlling stake in Flipkart in 2018, in a $16 billion deal. It has raised its shareholding and now owns over 80% stake in the Bengaluru-headquartered e-commerce major.
