Published
Oct 17, 2018
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Walmart CEO and CFO aim to "win" in India, leverage global presence for Flipkart

Published
Oct 17, 2018

Walmart CFO Brett Biggs said at Walmart’s annual investor day summit on October 16 that India is a dynamic market where the business intends to “win”. Biggs added that the business will work to balance growth with profitability over the long term.


Walmart launched a function called partnership services that will see it use its global scale and best practices to help Flipkart Group - Reuters


Walmart lowered its overall earnings forecast on Tuesday to account for the Flipkart acquisition. Of the acquisition, Biggs said the company expects it to help expand its international business, which he foresees growing at five percent this year, the executive told ET Bureau.

During the investor summit, Walmart has also announced that it will use its own global scale and network to help Flipkart to further expand. Walmart has launched a function called partnership services that will see it use its global scale and best practices to help Flipkart Group.

Walmart CEO Judith McKenna also stated that Walmart is still committed to Flipkart’s initial purchase option (IPO), although there is no timeline.
 

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