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.
