Beijing News (Reporter Yu Guigui) Walmart recently released its financial results for the fourth quarter and full year of fiscal year 2024 ended January 31, 2024. Among them, Walmart China's net sales in the fourth quarter increased by 11% year-on-year3%。
In fiscal year 2024, Walmart achieved revenue of $648.1 billion, a year-on-year increase of 6%; Net profit attributable to the parent company was 155$1.1 billion, a year-on-year increase of 328%。In the fourth quarter, Walmart achieved revenue of 1733900 million US dollars, a year-on-year increase of 57%；Net profit attributable to the parent company was 54$9.4 billion, down 124%。Walmart's adjusted net income for the fourth quarter was 72$5.4 billion, up 132%。
Specifically, Walmart China's net sales in the fourth quarter were US$4 billion, up 113%, comparable sales increased by 66%, the gross profit margin is relatively stable. Walmart said this was due to the continued growth of Sam's Club and e-commerce businesses in China, as well as the improvement of operational efficiency.
In terms of growth rate, Walmart's net revenue and e-commerce revenue in the fourth quarter increased by about 11% year-on-year, and the same-store growth rate fell from double-digit growth to 66%, while the growth rate of related businesses in the previous quarters was above 20%, and the growth rate of the previous quarter declined significantly. It is worth noting that Walmart China's e-commerce penetration rate has reached 48%. Walmart executives are optimistic about the future growth of its business in China, India and Mexico. At the meeting, company executives said that the above three markets are expected to account for about 3 4 percent of international business growth in the coming years.
Edited by Wang Lin.
Proofread by Diyan Chen.