E-commerce sales at Walmart US hike 40% in FY19

During the fourth quarter of fiscal 2019, total revenue was $138.8 billion, an increase of $2.5 billion, or 1.9 per cent. Excluding currency, total revenue was $140.5 billion, an increase of $4.2 billion, or 3.1 per cent. Net sales at Walmart International were $32.3 billion, a decline of 2.3 per cent. Excluding currency, net sales were $34.0 billion, an increase of 2.7 per cent. Walmart US comp sales was on a two-year stack of 6.8 per cent, strongest growth in 9 years.

"We had a good year, and I want to thank our associates for their great work and openness to change. They continue to inspire us as we strive our customers better every day. Progress on initiatives to accelerate growth, along with a favourable economic environment, helped us deliver strong comp sales and gain market share. We're excited about the work we are doing to reach customers in a more digitally-connected way. Our commitment to the customer is clear- we'll be there when, where and how they want to shop and deliver new, convenient experiences that are uniquely Walmart," Doug McMilon, Walmart CEO and president.

For fiscal 2020, the company sees comp sales growth between 2.5 per cent to 3 per cent. With the acquisition of Flipkart, Walmart expects 3 per cent rise in its consolidated net sales in constant currency. Walmart US e-commerce net sales is likely to grow at around 35 per cent.

In FY19, the company launched new features for the Walmart.com Marketplace, including free two-day shipping on millions of new items and the ability to return marketplace items in stores. It also acquired majority stake in Flipkart Group, India’s leading e-commerce business. (RR)

Fibre2Fashion News Desk – India