Flipkart leads Q4FY21 international net sales for Walmart

Flipkart led international net sales for Walmart during the three months ended January, the US-based retailer said on Thursday. Speaking at the company’s 2021 investment community meeting, president and CEO Doug McMillon said: “This (India) is a market where we will step on the gas to ensure we have the appropriate level of investments in areas like the supply chain.”

The CEO said that although the penetration of e-commerce in the country is low, it is growing rapidly. “We are well positioned to grow as an emerging middle class spends more money through mobile phones. In India, our momentum and potential for growth make this a unique opportunity.”

The company’s international net sales increased by 5.5% year-on-year to $34.9 billion during the November-January period. Net sales in constant currency grew by 6.3% y-o-y to $35.1 billion, led by Flipkart, Mexico and Canada, the company said while announcing the Q4FY21 results. Walmart’s calendar runs from February-January.