Walmart International reported solid growth in sales in the third quarter led by the inclusion of Flipkart as well as strength in China and Mexico. The retail giant posted net sales of $29.2 billion, an increase of 1.3 per cent. Excluding currency, its net sales increased by 4.8 per cent to $30.2 billion. Flipkart’s flagship festive sale ‘The Big Billion Days’ sale affected Q3 net sales this year with the remaining four days to be reported in the fourth quarter. The event was a huge success powered by shoppers and sellers from tier-2 cities and beyond with nearly 75 per cent growth in new customers versus last year.
The company also continues to see ‘tremendous growth’ at PhonePe, its digital payments arm. PhonePe competes with Amazon Pay, Google Pay and Paytm.