Page 3 - Walmart

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

Flipkart spent $1.1 billion from February to July, shows Walmart filings

The firm has also has been an active investor in the ecosystem and has a portfolio of investments in many companies

PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

Walmart on a drive to attract Indian sellers to its Canadian marketplace

The US retail giant operates more than 400 stores and is one of the largest online retailers and fastest growing marketplace platforms in Canada

Walmart India team playing key role in innovation: CEO Doug McMillon

He added that they've changed the way people spend and save and their perception of value as well as how they travel, communicate, and work

Wall Street: Dow, S&P 500 gain on retail earnings boost; US yields rise

Walmart sees smaller profit drop this year; Home Depot beats sales estimates; US yields rise as retail data points to more Fed tightening

Walmart expects smaller profit drop in 2022 as discounts drive demand

The retailer spooked markets across the globe last month when it slashed its profit forecast and warned that consumers were pulling back on discretionary purchases at a far greater pace than feared

Walmart cuts 200 corporate jobs as weak demand, bloated inventory weigh

Walmart will also add an unspecified number of jobs in areas such as e-commerce, health and wellness, ad sales and supply chain

Walton family loses $11.4 bn after Walmart slashes earnings outlook

The Walton family fortune fell $11.4 billion on Tuesday after Walmart Inc slashed its earnings outlook for the second time this year

Walmart's PhonePe to move headquarters from Singapore to India: Report

Walmart group digital payments firm PhonePe is planning to shift its headquarters from Singapore to India, according to a source privy to the development. Flipkart, the largest shareholder of the firm, will continue to remain headquartered in Singapore and there is no decision to shift its base. When contacted, a PhonePe spokesperson confirmed the development. "We are in the process of moving our registered entity from Singapore to India," the PhonePe spokesperson said. An email query sent to Flipkart elicited no reply. Flipkart had partially spun-off PhonePe in December 2020 to enable the payments firm to access dedicated capital to fund its long-term ambitions over the next three to four years. The e-commerce firm continues to be its biggest shareholder. As per the last fundraise of USD 700 million, about Rs 5,172 crore, PhonePe was valued at USD 5.5 billion. PhonePe had crossed the 250 million registered user milestone, with over 100 million monthly active users (MAU) genera

BigBasket FY22 revenue up 17% to Rs 7,119 cr, loss widens 4x to Rs 813 cr

BigBasket expects GMV to grow 30% to Rs 13,000 cr in FY23 with quick commerce push; will scale up offline stores from 90 to 695 in a year, will double footprint to 70 cities

Walmart, Flipkart contribute over Rs 2 cr towards flood relief in Assam

The funds will help humanitarian organisation 'Doctors For You' support people impacted in the region, a joint statement said

E-commerce giants offer tech-friendly policies to woo offline sellers

They are offering new-age tech based products such as AI-led cataloguing, coupled with easy settlements and attractive platform fees that enable ease of doing business

US sues Walmart for facilitating money transfer scams worth $197 mn

The US Federal Trade Commission (FTC) has sued retail commerce giant Walmart for allegedly allowing its money transfer services to be used by fraudsters, who fleeced consumers out of more than $197 mn

HC quashes order on taxing Flipkart payment to Walmart for deputed staff

Court says assessing officer's stand on employer-employee relationship based on a wrong premise

Will Amazon be able to overcome challenges to its expansion plans in India?

A tougher global e-commerce environment and repeated policy and regulation problems are raising questions about the company's India expansion plans

PhonePe sells over 1 mn two wheeler insurance policies on its platform

Sees over 75% of overall insurance purchases from tier 2 & 3 cities

Flipkart aims to sell one bn fashion products in 2023, preps for sale event

Flipkart is betting on the fashion market and has announced its end-of-season sale (EOSS) event where it will connect customers to 200,000 sellers

Some suppliers working with retailer to cut prices amid inflation: Walmart

Investors have questioned Walmart's ability to ask suppliers to offer price reductions when they too are focused on protecting margins in the face of inflation hovering at a four-decade high

India lines up banks for e-commerce effort to take on Amazon, Walmart

The success of ONDC, which would promise equal access to all online sellers and buyers regardless of their size, is a priority for PM Modi