John David Rainey, Executive VP and CFO of Walmart said that the international sales of Walmart were up by 11% big part of which is due to the double-digit growth in India.
On Thursday, the retail giant Walmart said that their Indian e-commerce unit delivered promise in gross merchandise value(GMV) during the July Quarter. Walmart, which owns almost 80% of Flipkart, also mentioned that PhonePe continues to impress. However, no specific stats were shared supporting these claims by the company. PhonePe displayed tremendous growth, with over 5 billion transactions in a single month surpassing 1.5 trillion dollars in total payment volumes.
Rainey said on the earnings call, “Flipkart delivered strong GMV and net sales growth as the core business continues to grow well. The team continues to work on expanding the ecosystem of products and services like advertising, travel, and healthcare, and on delivering continued contribution profit improvement.”
Judith McKenna, the president and CEO of Walmart International, who led the international business in over 19 countries, announced her retirement on Wednesday. Though, she will continue to serve on the boards of Walmart Mexico, Flipkart and PhonePe.
