Walmart upbeat after China success
December 03, 2018 / Zhu Wenqian
Robust third-quarter sales growth in China and some key markets is making US retail giant Walmart Inc upbeat about full-year earnings prospects. Investments in e-commerce and a home delivery system for groceries are further boosting its confidence. Third-quarter revenues in China rose 4.3 percent year-on-year, driven by strong sales of fresh food, it said, without disclosing absolute figures.
Particularly, Sam's Club, Walmart's high-end membership stores in China, saw a good performance during the Mid-Autumn Festival in September. Walmart's global revenues in the third quarter reached $124.9 billion, up 1.4 percent year-on-year. In 2017, its total revenue worldwide was $485.9 billion, up 3.1 percent year-on-year, yielding gains of $14.5 billion, which will return to shareholders through dividends.