For immediate release
Walmart China Q3 Sales & Ticket Continue to Grow
November 18, 2016, Shenzhen - Walmart announced the latest quarterly financial report. In China, Walmart Q3 net sales grew 4.2 percent and comp sales increased 1.6 percent with a 4.3 percent increase in average ticket.The key drivers of the performance were strong seasonal and festive categories during the Mid-Autumn Festival and a strong performance in fresh categories, an on-going focus area for Walmart in China. Doug McMillon, President and CEO of Wal-Mart Stores, Inc., added, “We recently announced we own roughly 10 percent of JD.com’s shares. Through the alliance with JD.com Walmart continues to offer exciting new ways for customers to access high-quality products from around the world.”
Walmart China’s Q3 comp sales increased 1.6 percent driven by performance in hypermarkets, fresh offering and solid performance during the Mid-Autumn Festival
Walmart China’s comp sales improved compared to Q2. Gross profit rate increased in the quarter driven by performance in hypermarkets, the fresh offering and solid performance during the Mid-Autumn Festival. Walmart focused on driving efficiency, reducing expenses and strengthening our portfolio through ‘We Operate for Less’ and ‘We Buy for Less’ initiatives. Inventory also grew at a slower rate than sales.
During the quarter, Walmart China also lunched three new joint initiatives with JD: an exclusive Sam’s Club flagship store on JD.com, a Walmart global imports store also on JD.com. In addition, Walmart announced a $50 million strategic investment in New Dada, China's largest local on-demand logistics and grocery O2O ecommerce platform. The two-hour delivery service is available via JDDJ to customers within a 3km radius of more than 40 Walmart stores that are currently part of the program in Guangzhou, Shenzhen, Beijing and Shanghai. The service is expected to expand to Walmart stores in Chengdu, Wuhan and more cities soon.