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In India, Walmart would like a ‘collaborative regulatory process for a level playing field’

Walmart reported total revenues of $138.8 billion for the quarter ended 31 December 2018 (Q4FY19). Its net sales at Walmart International were down 2.3% to $32.3 billion, and growth was around 5% in constant currency, the company said. In its Wamart International business, Walmart reported consolidated operating income “decline by a low single-digit percentage range, including Flipkart, and increase by low single-digit percentage range, excluding Flipkart.” Its international arm EPS was down by a “low single-digit percentage range compared with FY19 adjusted EPS.” Capex was approximately $11 billion. For FY19, Walmart’s operating cash flow was $27.753 billion. In Brazil, its deconsolidation led to an offset from the inclusion of Flipkart’s sales for a quarter. Its Gross profit rate declined 116 bps on a reported basis due to Flipkart. Pertinent notes from its call with analysts On its entry into the Indian ecommerce market Doug McMillon, Walmart’s CEO, said that the company is “optimistic about the eCommerce opportunity” in India due to the size of the market, the low ecommerce penetration and the growth pace. McMillon added that the company would like to work with the government for “for pro-growth policies that can allow this nascent industry” to grow. McMillon said that the continued ecommerce growth in India, the growing middle class etc are as true today as they were 6 months ago, and hence it is “excited about the market.” On Flipkart and its investments in Flipkart, Brett Biggs, executive VP and CFO, said, “.. We'll see how the year…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

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