E-commerce major Flipkart doubled its fulfilment capacity versus last year in preparation for the festive season, with dozens of new fulfilment centres, more than 1,000 last mile delivery hubs and expanded relationship with kirana partners, Walmart said during its Q3 earnings call on November 16.
"Festive season was off to a good start for Walmart with Big Billion Days in India," Walmart CEO Doug McMillon said.
"Flipkart had another strong quarter, with strong sales and favourable trends in monthly active users,” the Walmart management said during the call, adding that Flipkart, China and Mexico, saw strong growth during the September quarter.
Walmart International net sales were $23.6 billion, a decrease of $5.9 billion, or 20.1 percent, negatively affected by $9.4 billion related to divestitures, the company said in its earnings. Changes in currency exchange rates positively affected net sales by approximately $1.3 billion.
However, without the divestitures, Walmart saw international sales growth of 10 percent in constant currency terms, led by India, China and Mexico. International profit was up 17.5 percent, excluding divestitures, the company said.
Judith McKenna, Head of Walmart International, spoke about how Walmart is sharing capabilities and technology around the world.
"The Flipkart ad tech platform is really matured, and is being deployed in markets such as Chile, Mexico and Canada," she said.
(Edited by : Shoma Bhattacharjee)