Walmart sees Q3 growth hit as Flipkart shifts Big Billion Days sale

Walmart expects growth to face a headwind of over 100 bps in the next quarter due to the timing shift of Flipkart’s flagship sales event, Big Billion Days between Q3 and Q4, the company said during its second quarter results ending on July 31.

“For Q3 sales guidance, we expect a headwind of over 100 bps to growth related to a timing shift of Flipkart’s Big Billion Days between Q3 and Q4,” said John David Rainey, executive vice president and chief financial officer, Walmart Inc, in the earnings presentation.

Its India business drove the growth of Walmart International’s operating income and advertising revenue in the second quarter, with the advertising business growing 20% year-on-year (YoY), led by Flipkart Ads.


Walmart International’s operating income was $1.4 billion (constant currency), up 16.6% YoY led by China and India. The company attributed this growth to lower losses in ecommerce and business mix changes across markets.

In India, Walmart operates a horizontal ecommerce business under Flipkart and fashion ecommerce under Myntra. Both these platforms have launched quick commerce arms, Flipkart Minutes and M-Now. They offer delivery in 10-30 minutes through micro-fulfilment centres serving a 2-6 km radius.

Flipkart has been expanding its quick commerce offering, Minutes, to compete with incumbents. In June, Minutes crossed the 1,000 dark stores mark, and plans to have about 1,500 in the coming months.