Page 4 - Walmart

Google, Walmart gain fintech users from India as Paytm faces restrictions

Paytm's decline suggests consumers are moving usage to alternative services even before any disruption to its systems

Flipkart Internet receives Rs 924 cr infusion from its Singapore entities

Flipkart is also currently in discussions to raise up to $1 billion, with parent company Walmart committing to inject $600 million

Walmart launches Centre for Tech Excellence at IIT Madras for AI adoption

The idea is to leverage cutting-edge solutions in artificial intelligence (AI) and digitisation to enhance operational efficiency and profitability for MSMEs

PhonePe to go global in a couple of months, says CEO Sameer Nigam

The Bengaluru-headquartered company is expected to announce its international plans over the next couple of months

Flipkart in talks to potentially acquire Reliance-backed startup Dunzo

Despite having raised approximately $500 million to date, Dunzo has faced increased competition in the hyperlocal delivery segment

Walmart to acquire Vizio for $2.3 bn, sales outlook, dividend lift shares

The retailer reported a 3.9 per cent rise in comparable sales, excluding fuel, for the quarter ended Jan 31

Walmart's International Q4 sales growth driven by Flipkart, Mexico, China

Walmart International comprises the retail giant's operations outside the US, including retail websites

Walmart in talks to buy TV maker Vizio for more than $2 billion: WSJ

The talks come at a time Walmart is increasingly monetising its reach and troves of shopper data to sell ads on its properties including its website and store assets such as digital diplays

Instacart to cut 250 jobs as slowing ad biz counters upbeat Q1 forecast

Ad and other revenues increased 7 per cent in the fourth quarter, compared with a 19 per cent growth in the previous quarter

Walmart procured goods worth $30 bn from India in 20 yrs for global ops

Walmart has sourced goods worth over USD 30 billion from the Indian market in the last two decades for its global operations, a company official said on Tuesday. Now the Bentonville-headquartered firm has a goal to triple its sourcing of goods from India up to worth USD 10 billion per year by 2027, said Walmart Inc Executive Vice President, Sourcing Andrea Albright. Walmart is encouraging MSMEs (Micro, Small and Medium Enterprises) and entrepreneurs with proper training and believes that there is a tremendous opportunity to continue to contribute to India's growing economy, she said. The company has been doing business in India for the last 25 years, Albright said. "We have already sourced more than USD 30 billion in products from India," she said speaking at the Walmart Growth Summit here. The company is building an ecosystem and taking a people-led approach to connect its work across the country. "Investing in high growth markets like India helps us strengthen our relationships

PhonePe adds former revenue secretary, 2 Walmart executives to its board

The strengthening of PhonePe's board comes at a time when the government is tightening the regulatory framework. PhonePe's rival Paytm is already facing multiple issues

Trident Ltd Q3 results: Profit down 25% to Rs 109 crore on rise in expenses

Shares of Trident - which supplies products to department stores such as Shoppers Stop, D-Mart and Walmart - closed 2.6% lower after the results

Paytm crackdown spooks merchants; Walmart, Google targeting same vendors

Cash was once king in India, but Paytm is credited with revolutionising India's digital payments market which is set to be worth $10 trillion by 2026

Flipkart eyes profitability ahead of IPO; looks to go public in 1 -2 years

Flipkart Internet, the marketplace arm of the e-commerce giant, recently reported a 42 per cent growth in operating revenue for FY23 at Rs 14,845 crore

Flipkart to reduce its workforce by 5-7% based on performance by April

The Indian e-commerce giant is also about to close $1 billion in financing from Walmart

Toys to have major share in Walmart's $10 bn Indian exports target: DPIIT

US-based retail giant Walmart is targeting to increase its exports from India to USD 10 billion annually and domestic toys will account for a significant portion of the total exports, a senior government official said on Thursday. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the American company has recently held a workshop with 100 Indian toy makers so that they can set up the supply chain for toy exports from India. "Walmart has given a target of USD 10 billion exports from India and in that they are going to have toy exports as a significant portion," he told reporters here. The company has earlier informed toy makers about their requirements and expected quality standards. In December 2020, Walmart committed to triple its exports of goods from India to USD 10 billion each year by 2027, providing a significant boost to micro, small and medium-sized enterprises (MSMEs) here. Global retailers such as IKEA are already sour

Flipkart in talks to raise $1 billion, $600 million to come from Walmart

The fundraising is likely to increase Flipkart's valuation by 5-10 per cent from $33 billion earlier

Retail major Walmart sources bicycles from India, partners Hero Ecotech

Global retail major Walmart has started sourcing bicycles from India by entering into a strategic partnership with Hero Ecotech. The first India-made bicycles are hitting select stores in the US market just in time for the holidays, Walmart said in a statement. This is part of Walmart's commitment to triple exports out of India to USD 10 billion annually by 2027, it added. Hero Ecotech has designed a cruiser-style bike for Walmart carrying the Concord brand available in both adult-sized men's and women's versions adding to the company's growing bicycle offerings. The cruisers sold in Walmart US stores are built with more than 90 per cent of raw materials sourced from India. Andrea Albright, Executive Vice President, Sourcing, Walmart said: "India is well-positioned to support increased demand for products by Walmart customers, and we are excited about our partnership with Hero Ecotech. This collaboration furthers our work to strengthen resiliency in our global supply while ...

Walmart turns to India from China for cheaper imports as it cut costs

Only 60% of its shipments came from China during the same period, down from 80% in 2018, the same data shows. To be sure, China is still Walmart's biggest country for importing goods

Flipkart 'TBBD' sales lift Walmart's gross margins in Aug-Oct period

US retail giant Walmart's consolidated gross margins improved in the August-October period, helped by 'The Big Billion Days' sales by its Indian e-commerce arm Flipkart. The festive season, which fell in the third and fourth quarters, boosted Walmart International's sales by 13 per cent, said an earnings statement from US-based retailer Bentonville. Walmart follows a February-January calendar and its third quarter ended on October 31. "Consolidated gross margin rate up 32 bps positively affected by a slight improvement for Walmart US and timing of Flipkart's The Big Billion Days event, which flipped from Q3 last year to Q4 this year," said Walmart. Its consolidated revenue for the quarter was at USD 160.8 billion, up 5.2 per cent and 4.3 per cent in constant currency. Walmart International's net sales during the third quarter were USD 26.7 billion in constant currency terms, while its gross profit rate was up 151 bps. Walmart International business reported a strong growth by its