On the same day, Walmart released its third quarter financial report ending October 31, 2024, and raised its full-year profit forecast. In the Chinese market, Walmart's net sales in the third quarter lithuania whatsapp number data 5 million approximately 35.5 billion, a year-on-year increase of 17.0%, and comparable sales increased by 15%. Sam's Club and e-commerce businesses provided strong growth momentum, and offline customer traffic in both Sam's Club and Walmart hypermarkets achieved positive growth. In the first three quarters, Walmart China's net sales totaled 110 billion yuan, which is expected to set a new record high.
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Walmart's long-termism
Once upon a time, Walmart's performance was sluggish. As foreign-funded entities such as TESCO, Carrefour and Metro left the Chinese market one after another, we once believed that Chinese retail had completely defeated foreign capital.
In 2020, some media reported that "Walmart plans to sell part of the equity of its hypermarket business in China", which was quickly denied by Walmart China officials, but there is a reason for it.
After more than 20 years in China, before 2020, Walmart may have only had a brief highlight in fiscal 2013 (Walmart's global revenue fell 6%, while China's revenue grew 24.5%), during which time it experienced seven changes of leadership.
In the short three years from 2021 to 2024, with the arrival of the post-epidemic era of smart and self-pleasing consumption, Sam's Club has quickly become popular. Its membership model, private brands, selected items, online and forward warehouses, product quality, low prices, every dimension of supermarket operations has confirmed its status as the world's number one retailer.
