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Walmart Q3 revenue grows 2.5 pct year on year

HOUSTON
2019-11-15 04:21

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HOUSTON, Nov. 14 (Xinhua) -- Total revenue of Walmart Inc. for its third quarter (Q3) of Financial Year 2020 (FY20) ending Oct. 31 hit 128 billion U.S. dollars, up 2.5 percent year on year, the retail giant reported on Thursday.

The net sales of Walmart International were 29.2 billion dollars, an increase of 1.3 percent, Walmart said.

The company said the inclusion of Flipkart and strength in Walmex as well as Walmart China were partially offset by softness in the United Kingdom.

Walmart made a 16-billion-dollar investment in Flipkart in August 2018, becoming the majority owner of the Indian e-commerce company.

Walmex is the Mexican and Central American Walmart division, one of Walmart's largest divisions outside the United States.

Walmart China began in 1996 with the opening of a supercenter and Sam's Club in Shenzhen. In June 2016, Walmart and JD.com, one of China's largest e-commerce companies, announced a strategic alliance to serve consumers across China through a powerful combination of e-commerce and retail.

Walmart U.S. eCommerce sales growth in Q3 increased by 41 percent year-over-year in Q3, thanks to strong growth in online grocery.

"Looking ahead, we're prepared for a good holiday season. Our integrated offering with stores and eCommerce delivers value and convenience for our customers," said Walmart's President and CEO Doug McMillon.
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