WALMART SEES 56.2% RISE IN Q3 PROFITS

Highlights

• Walmart’s net income zoomed 56.2 percent to $5.1 billion as compared to same period last year, following a spike of 5.2 percent in sales to $134.7 billion in the quarter that ended on October 31

• Walmart said its third quarter US e-commerce sales ...

WALMART SAYS FLIPKART'S LIMITED SALES IMPACTED ITS GROWTH

Highlights

• Walmart CEO and president Doug McMillon said that Flipkart's business was impacted by the government regulations which restricted it from delivering non-essential items

• Walmart has also been affected from the closure of stores in South Africa

Walmart chief executive writes to PM Modi on creating stable business environment

In the latest news, Walmart chief executive Doug McMillon had written to Prime Minister Narendra Modi as he sought for certainty and predictability in India’s business environment. McMillion had met Modi on September 25 during the Prime Minister’s visit to the US.

According ...