Flipkart purchase brings down Walmart's operating income 4% to $4.9 bn in a three-month period

Industry:

Walmart's operatingincome fell 4.1 percent to $4.9 billion during the first quarter, in partbecause of the US retail major's purchase of Indian e-commerce startup Flipkartlast year.

 

Walmart Inc said onThursday that rates for customers will rise due to higher tariffs on goods fromChina as the world’s largest retailer reported its best comparable sales growthfor the first quarter in nine years.

 

Bentonville,Arkansas-based Walmart called out the impact of tariffs on consumers afterMacy’s Inc delivered a similar warning on Wednesday. The department storechain’s Chief Executive Jeff Gennette said tariffs on Chinese imports are defeatits furniture business and warned investors that additional levies would leaveits clothing and accessory categories vulnerable.



For more details:  https://www.firstpost.com/business/flipkart-purchase-brings-down-walmarts-operating-income-4-to-4-9-bn-in-first-quarter-6649311.html

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