Home / Knowledge / News / Apparel/Garments / Walmart expects online sales of 30-40% CAGR through 2018
Walmart expects online sales of 30-40% CAGR through 2018
17
Oct '14
The world’s biggest retailer - Walmart Stores expects an increase in global e-commerce sales of around 25 percent in fiscal year 2016, and anticipates growth over the three-year period from fiscal years 2016 through 2018 to average 30 to 40 percent.

Charles Holley, Walmart’s CEO outlined the company’s financial priorities for growth and detailed investment and expansion plans for fiscal year 2016.

“Our business and customers continue to evolve and so will the way we deploy capital. We will invest more heavily in e-commerce initiatives, while temporarily moderating our global physical growth, particularly larger stores,” Holley explained.

“Globally, we expect to finish this year with approximately $12.5 billion in e-commerce sales,” said Holley.

Holley added, “The greatest investment of capital and in operating loss for our e-commerce operations will come over the next 18 to 24 months, and then we would expect to see that investment start to moderate in fiscal 2018.”

Walmart unveiled its capital expenditure plans for the next fiscal year ending January 31, 2016, under which it will spend between $11.6 and $12.9 billion, including between $1.2 to $1.5 billion on e-commerce and digital initiatives.

“This is below the updated range for fiscal year 2015 of $12.5 to $13.0 billion, due to the change in mix of spending toward more digital growth and a moderation of physical store growth,” Walmart said.

The retailer also indicated that as a result of a tougher than anticipated sales environment, it downwardly revised its estimates and now expects sales for the current fiscal year to grow between 2 and 3 percent on last year’s $473.1 billion.

Earlier in February of this year, Walmart had said that it expected net sales growth to be at the low end of its guidance provided last October of between 3 to 5 percent.

Walmart will add between 26 and 30 million net retail square feet worldwide next year, down from this fiscal year’s anticipated 32 to 34 million square feet, due to a moderation of large format store growth and accelerated e-commerce investments.

Wal-Mart Stores CEO Doug McMillon said, “We’ll change the mix of our capital spend next year to provide greater access, while continuing to focus on price leadership, service, and a broad assortment.” (AR)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search