WALMART SHARES
For American brands worried about China, Is India the future?
The surge of multinational brands in India's manufacturing sector signals a shift towards diversification and job creation. Companies like Shree Krishna are fulfilling substantial orders for global retailers, highlighting India's growing importance in the global supply chain.
Sellers on Flipkart facing issue in changing price, firm denies any intervention in pricing
The Walmart group firm, however, denied any role in influencing pricing on the platform and said that it is working with sellers to help them understand the new rate card policy.
MCA probe report on Byju’s; Walmart on Flipkart, PhonePe profitability
An investigation by the central government into Byju's cleared the edtech firm of financial fraud charges, according to a report by Bloomberg. The Ministry of Corporate Affairs, however, denied it on Wednesday evening. This and more in today's ETtech Top 5.
Nasdaq ends higher on tech strength; Dow pulls back
Tech stocks like Nvidia led the market surge as investors awaited crucial inflation data. Retailers weighed down the Dow, but the S&P 500 rebounded. FedEx projected profit growth, while Carnival Corp raised its annual forecast. Spirit AeroSystems attracted attention amid acquisition talks with Boeing.
DPIIT officials, Flipkart, toy makers to meet on Wednesday on ways to increase sourcing
Senior officials from the Commerce and Industry Ministry, Walmart group firm Flipkart, and domestic toy makers will discuss ways to enhance India's position in the global toy supply chain and increase sourcing on the e-commerce platform.
Walmart opposes adding panic buttons to stores
Walmart opposes legislation requiring panic buttons in stores, citing potential for false alarms, despite New York State Senate passing a bill that would mandate big retail chains to implement them. Walmart's executive VP of corporate affairs expressed concerns over the practicality of installing panic buttons in all of its 4,700 stores nationwide. The legislation, if signed by Governor Hochul, would also require violence prevention training for retail employees.
- Go To Page 1
IPOs of Flipkart, PhonePe could take couple of years: Walmart executive
Walmart's Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart's executive, Dan Bartlett.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
UPI transactions set new record, scale 14 billion peak in May
The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions recorded in April. In terms of value, UPI facilitated transactions amounting to ₹20.45 lakh crore in May, compared to ₹19.64 lakh crore in April, as per the data released by NPCI on Saturday.
UPI transactions scale 14 billion peak in May
The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at 453 million. UPI is the fastest growing digital payments channel in the country.
Gap surges 22% as apparel maker's turnaround strategy starts to pay off
Shares of Gap climbed as much as 22% on Friday after the apparel retailer lifted its full-year sales forecast signaling that its turnaround strategy of bringing in newer styles is starting to work.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
Inspiring! This IIT Kanpur graduate left a high-paying job to become a fitness trainer
Gupta, a graduate of the esteemed Indian Institute Of Technology Kanpur, surprised the world with a daring career transition—she departed from her position at a major multinational corporation to pursue her passion for becoming a fitness coach. Her LinkedIn post garnered widespread attention as she discussed the challenging decision she made and her determination to persevere, even after facing setbacks with her initial startup venture.
Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
Google’s $350-million Flipkart bet; Canva CEO interview
Ecommerce major Flipkart has closed its nearly $1-billion funding round with Google coming on board. More on this in today’s ETtech Top 5.
Target issues weak forecast as shoppers pull back; shares tumble 10%
Target on Wednesday said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Walmart profits rise on strong sales from wealthier shoppers
Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. The improved sales to wealthier shoppers reflect a focus on affordable pricing and convenience, as well as a greater attention to products such as fresh food, company executives said on a conference call.
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
US stocks lose steam after Dow hits milestone 40,000 mark
The blue-chip index has recovered from its October 2022 lows, powered by resilient U.S. economic growth despite steep rate hikes by the Fed.
Dow tops 40,000 for first time amid rate cut hopes
The blue-chip index has recovered nearly 40% from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve. At 11:28 a.m. ET, the Dow Jones Industrial Average was up 112.55 points, or 0.28%, at 40,020.55, the S&P 500 was up 13.11 points, or 0.25%, at 5,321.26, and the Nasdaq Composite was up 35.67 points, or 0.21%, at 16,778.06.
Walmart lifts full-year sales and profit forecast, shares soar 7% to hit record high
Walmart raised its full-year forecast and reported better-than-expected first-quarter results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high.
Walmart Q1 Results: Co reports profits of $5.10 billion driven by consumers seeking bargains
Walmart Inc. reported another quarter of strong quarterly results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high.
Walmart lifts full-year sales and profit forecast, shares rally
The company now expects adjusted core profit between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
Wall Street boasts record closes as inflation data fuels rate-cut bets
Tepid U.S. Consumer Price Index (CPI) data for April fueled optimism that inflation was easing after three months of higher-than-expected numbers. This led traders to raise bets that the Fed will cut its policy rate in September and December.
Share of quick commerce in online FMCG sales rockets to 35% in FY24
Quick commerce drove overall ecommerce for these companies as well as the broader fast moving consumer goods (FMCG) industry, company executives said.
Walmart to lay off hundreds of corporate staff, relocate others, source says
Workers at the U.S. retail giant's smaller offices in Dallas, Atlanta and Toronto are being asked to move to other central hubs such as Walmart's corporate base in Bentonville, Arkansas, as well as Hoboken, New Jersey, or Sunnyvale, California, the source told Reuters. Walmart will close those smaller hubs later this year, the source added.
Amazon India gets funds; IT margins hit
Amazon has ploughed fresh funds in its Indian marketplace entity. This and more in today’s ETtech Top 5.
Walmart's earnings shine as it preps $2.3-billion Vizio acquisition
Shares in the retail giant rose 6% to a record high of $180.31 in early trading after it also gave an upbeat annual sales forecast and announced a 9% rise in its dividend, the biggest increase in more than a decade.
Load More
