Walmart's Global Surge: Flipkart's Big Billion Boost

Walmart's international sales saw a significant boost from Flipkart's 'Big Billion Days' event, contributing to a 12.4% growth in sales. Walmart's e-commerce and advertising sectors experienced notable growth, with Flipkart leading the charge. The timing of the event played a crucial role in these results.

Walmart, the US retail powerhouse, announced on Tuesday that its international sales received a substantial boost in the third quarter, fueled by the 'Big Billion Days' sales event from its Indian subsidiary, Flipkart.

The retail giant, which adheres to a February-January financial year, reported international sales amounting to USD 31.5 billion, reflecting a 12.4% growth in constant currency terms. The sales momentum was significantly driven by Flipkart, along with contributions from operations in Mexico and China.

Walmart International's e-commerce sales impressively surged by 43%, with Flipkart leading through marketplace and delivery services. The advertising segment also saw a 50% uptick, powered by Flipkart's initiatives. Nevertheless, while the timing of the Big Billion Days event bolstered sales, it also partially offset Walmart's overall gross profit.

(With inputs from agencies.)