24-April-2024
Corporate News
 
Walmart net sales rise 2.3% in Q4FY20; Flipkart leads e-commerce segment
19-Feb-2020

Walmart on Tuesday said Flipkart led its e-commerce sales in the international segment. E-commerce contributed about 12% of the total segment sales in the three months ended January 2020. Net sales at Walmart International increased by 2.3% year-on-year (y-o-y) to $33 billion in Q4FY20, the US-based retailer said in a statement. Sales for the the year to January 2020 stood at $120.1 billion against $120.8 billion in FY19, a fall of 0.6%. Operating income in the international segment dropped to $1.1 billion in Q4FY20 against $1.2 billion in Q4FY19, a decline of 5.6%. Walmart attributed the fall in operating income to “disruption in Chile”. Walmart’s financial calendar runs from February to January. “We experienced softness in some key international markets, as well as in Chile, where unrest led to disruption in the majority of our stores. “Walmex, China and Flipkart all had a solid quarter,” Walmart chief financial officer Brett Biggs said.

News Source:- https://www.financialexpress.com/market/walmart-net-sales-rise-2-3-in-q4fy20-flipkart-leads-e-commerce-segment/1872235/