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News

  • Walmart US’ ecommerce growth accelerates in Q3

    Walmart US ecommerce sales grew by 43% in Q3 thanks to the strong performance of home delivery and online grocery

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  • Future Retail profit up 14.32% in Q2

    Future Retail reported 14.32% increase in standalone net profit at INR1,751 million (USD26 million) for the second quarter ended September 30, 2018. The company had reported a net profit of INR1,531 million (USD23 million) during the July-September quarter a year-ago. Total income during the period under review was at INR49,285 million (USD728 million)

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  • Walmart to restructure Flipkart, integrate Myntra and Jabong

    Days after announcing that Myntra and Jabong would be rolled into Flipkart following Binny Bansal’s resignation as group chief executive, Walmart is set to carry out a massive layoff at Jabong and integrate the online fashion retailer completely into Myntra. With Binny Bansal's exit from Flipkart, another senior executive, Ananth Narayanan, who handles the company's popular fashion platforms Jabong and Myntra, may also quit soon

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  • Alibaba-backed BigBasket continues strong growth

    Alibaba-backed BigBasket said it crossed INR2 billion(USD29.55 million) in sales and almost doubled the number of customers in the year ended March, indicating a growing preference for online grocery-shopping in the country. “We hope to clock INR35,000 million (USD517.25 million) in the current fiscal and invested heavily on marketing, analytics and creating infrastructure to help maintain our focus on customer experience,” said Hari Menon, founder of the company, which raised USD300 million from Alibaba earlier this year.

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  • 7-Eleven Singapore forges pickup partnership with Qoo10

    Singapore 7-Eleven has signed a deal with Southeast Asian ecommerce platform Qoo10 that will see collection services offered in an initial 75 7-Eleven stores

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