Latest news with #WalmartInternational
Economic Times
29-05-2025
- Business
- Economic Times
Quick commerce now accounts for 20% of ecommerce sector in India: Walmart International CEO
ETtech Kathryn McLay, CEO, Walmart International Quick commerce now accounts for 20% of India's ecommerce market and is growing at a rate of 50% annually, according to Kathryn McLay, CEO of Walmart International. 'That's a part of ecommerce that we want to be playing in,' she said at the Bernstein Annual Strategic Decisions Conference, reaffirming Walmart's growing focus on the segment through its Indian arm this push, Flipkart's Indian marketplace entity has received a cash infusion of Rs 2,225 crore (around $260 million) from its Singapore-based parent, according to regulatory filings. The funds come as Flipkart accelerates investments into Minutes, its quick commerce vertical, which is targeting 800 dark stores by the end of 2025. Earlier this month, Flipkart Minutes vice president Kabeer Biswas told ET that the company had already reached the halfway mark on that rollout. McLay also stated that Walmart was not prioritising near-term profitability for its India ecommerce businesses — Flipkart and fashion platform Myntra — over market share and growth. Close on the heels of expanding services to Singapore, Myntra received a cash infusion of Rs 1,062.5 crore ($124 million) from its parent entity. 'We're excited about their growth. We are not so focused on profitability that we would trade off market share and growth for the future,' she said. 'You take the balance of all of that, and we will get there at the right time.' She added that while Flipkart's path to profitability may not be linear, Walmart has achieved success with similar models in other markets — not just at the broader business level, but within individual channels like quick commerce. Walmart had led a $1 billion funding round in Flipkart in 2023, committing $600 million to the rapid growth, quick commerce continues to form a modest portion of India's overall retail sector. As ET reported on May 19, six of the country's top fast-moving consumer goods (FMCG) firms — Hindustan Unilever, Britannia, AWL Agri Business (formerly Adani Wilmar), Dabur, Tata Consumer Products, and Marico — reported a combined Rs 4,400 crore in quick commerce sales for FY25, accounting for just 2–4% of their overall revenues.A recent report by HSBC Securities projects the gross order value of India's quick commerce market to touch $35–40 billion by FY26. Flipkart faces stiff competition in the space from the likes of Blinkit (owned by Eternal), Swiggy's Instamart, Zepto, Amazon, BigBasket (backed by Tata Digital), and Reliance's JioMart. Domicile shift, IPO roadmap, financials Flipkart is also in the process of shifting its domicile from Singapore to India — a move that group CEO Kalyan Krishnamurthy called a 'significant step toward aligning more closely with the economic and regulatory landscape' during a recent townhall. The reverse flip comes ahead of a planned initial public offering in 2026. For FY24, Flipkart Internet reported operating revenue of Rs 17,907.3 crore, a 21% year-on-year increase, while its net loss narrowed by 41% to Rs 2,358 crore. Its fashion vertical Myntra turned profitable for the first time in FY24, posting a net profit of Rs 31 crore compared to a loss of Rs 782 crore in the previous year. Myntra's revenue rose 15% during the fiscal. The platform is also extending its reach beyond India. While facing fresh competition in the local market following Shein's re-entry via a Reliance tie-up, Myntra is expanding to Singapore through Myntra Global. It has also launched M-Now, a rapid delivery service for fashion and home goods.
Bloomberg
16-05-2025
- Business
- Bloomberg
Walmart Names Company Veteran to Oversee International Growth
Walmart Inc. selected a company veteran to fill a newly created role that aims to spark international growth, as the world's largest retailer looks to bolster its overseas operations. Andrea Albright will serve as the chief growth officer for Walmart International, according to a message viewed by Bloomberg News. Albright has been at Walmart for about two decades, most recently running its global sourcing efforts.
Fibre2Fashion
16-05-2025
- Business
- Fibre2Fashion
US' Walmart's Q1 FY26 revenue hits $165.6 bn, e-commerce jumps 22%
American retail corporation Walmart has reported its first quarter (Q1) fiscal 2026 (FY26) results, highlighting a revenue growth of 2.5 per cent year-over-year (YoY), or 4 per cent in constant currency to reach $165.6 billion. The operating income rose by 4.3 per cent, or 3 per cent on an adjusted constant currency basis. The gross margin rate improved by 12 basis points (bps), led by Walmart US operating income which grew by $0.3 billion, or 4.3 per cent. The adjusted income rose 3 per cent in constant currency, supported by improved gross margins, higher membership income, and better e-commerce economics. The global e-commerce sales surged 22 per cent, driven by store-fulfilled pickup, delivery, and marketplace expansion. Walmart reported revenue of $165.6 billion in Q1 FY26, up 2.5 per cent YoY, with global e-commerce rising 22 per cent. US sales and operating income grew 3.2 per cent and 7 per cent, respectively. International sales were flat but rose 7.8 per cent in constant currency. For FY26, Walmart expects 3â€'4 per cent sales growth and a 3.5â€'5.5 per cent rise in adjusted operating income. The adjusted earnings per share (EPS) stood at $0.61, excluding a $0.05 net loss on equity and other investments. GAAP EPS stood at $0.56, while adjusted EPS was reported at $0.61. Return on assets (ROA) was 7.5 per cent, and return on investment (ROI) reached 15.3 per cent, up 30 bps. The company also raised $4 billion in long-term debt at favourable rates for general corporate purposes, Walmart said in a press release. In Q1 FY26, US net sales reached $112.2 billion, up 3.2 per cent. The operating income in US rose to $5.7 billion, reflecting a 7 per cent increase, while adjusted operating income stood at $5.7 billion as well, marking a 4.4 per cent rise YoY. Meanwhile, Walmart International net sales reached $29.8 billion, nearly flat with the prior year, reflecting a marginal decline of 0.3 per cent. On a constant currency basis, however, net sales rose to $32.1 billion, up 7.8 per cent YoY. The international operating income declined by 17.5 per cent to $1.3 billion, and by 6.4 per cent on a constant currency basis to $1.4 billion. For the second quarter (Q2) of fiscal 2026 (FY26), Walmart expects net sales to grow by 3.5 to 4.5 per cent in constant currency, based on Q2 FY25 sales of $167.8 billion, including a 20-bps tailwind from the Vizio acquisition. For the full fiscal 2026 (FY26), Walmart maintains its original guidance issued on February 20, 2025. The company anticipates net sales growth of 3-4 per cent in constant currency. The adjusted operating income is expected to increase by 3.5-5.5 per cent, accounting for a 70 bps. The net interest expense is projected to rise by $100–200 million in FY26. Fibre2Fashion News Desk (SG)
Time of India
15-05-2025
- Business
- Time of India
Flipkart boosts Walmart's international ad business in Q1
US retail giant Walmart reported a 20% growth in its international advertising business for the quarter ending April 30, driven primarily by Indian ecommerce marketplace Flipkart. For the fiscal year ending March 2024, Flipkart Internet, the marketplace arm of Flipkart, had generated nearly Rs 5,000 crore from advertising — surpassing the Rs 3,734 crore earned from marketplace fees. Walmart International posted net sales of $32.1 billion for the February-April quarter, reflecting a 7.8% year-on-year increase. The growth in net sales (constant currency) was primarily driven by Flipkart, along with the company's China and Walmex (Mexico and Central America) businesses. Over the past six months, Flipkart has also expanded its quick commerce business, Minutes, and is currently operating over 300 dark stores (micro warehouses). ET previously reported on the rapid growth of advertising revenue on quick commerce platforms. However, Walmart International's operating income for the February-April quarter stood at $1.4 billion, marking a 6.4% decline compared to the same period last year. The retailer attributed the decline to strategic growth investments in Flipkart, Walmex, and Canada. Last month, Flipkart's board approved a proposal to shift its domicile from Singapore to India, ahead of its planned IPO in 2026. This comes almost a year after Flipkart raised $350 million from Google as part of a $1 billion funding round led by Walmart. Walmart's continued focus on expanding Flipkart's ad business aligns with its broader strategy of leveraging ecommerce growth in key international markets.
Time of India
15-05-2025
- Business
- Time of India
Flipkart boosts Walmart's international ad business in Q1
US retail giant Walmart reported a 20% growth in its international advertising business for the quarter ending April 30, driven primarily by Indian ecommerce marketplace Flipkart. For the fiscal year ending March 2024, Flipkart Internet, the marketplace arm of Flipkart, had generated nearly Rs 5,000 crore from advertising — surpassing the Rs 3,734 crore earned from marketplace fees. Walmart International posted net sales of $32.1 billion for the February-April quarter, reflecting a 7.8% year-on-year increase. The growth in net sales (constant currency) was primarily driven by Flipkart, along with the company's China and Walmex (Mexico and Central America) businesses. Over the past six months, Flipkart has also expanded its quick commerce business, Minutes, and is currently operating over 300 dark stores (micro warehouses). ET previously reported on the rapid growth of advertising revenue on quick commerce platforms. However, Walmart International's operating income for the February-April quarter stood at $1.4 billion, marking a 6.4% decline compared to the same period last year. The retailer attributed the decline to strategic growth investments in Flipkart, Walmex, and Canada. Last month, Flipkart's board approved a proposal to shift its domicile from Singapore to India , ahead of its planned IPO in 2026. This comes almost a year after Flipkart raised $350 million from Google as part of a $1 billion funding round led by Walmart. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Walmart's continued focus on expanding Flipkart's ad business aligns with its broader strategy of leveraging ecommerce growth in key international markets.
