{"id":4663,"date":"2022-10-29T10:36:00","date_gmt":"2022-10-29T10:36:00","guid":{"rendered":"https:\/\/www.thirdeyesight.in\/?p=4663"},"modified":"2022-11-01T10:48:07","modified_gmt":"2022-11-01T10:48:07","slug":"walmart-and-ikea-continue-to-bleed-in-india-as-losses-widen","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/walmart-and-ikea-continue-to-bleed-in-india-as-losses-widen\/","title":{"rendered":"Walmart and Ikea continue to bleed in India as losses widen"},"content":{"rendered":"\n

By\nPranav Balakrishnan\n&\nWritankar Mukherjee<\/a>\n<\/p>\n\n

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Global retail giants<\/a> Walmart and Ikea<\/a> continued to bleed in India as their losses widened in 2021-22, despite a surge in sales, as per the latest regulatory filings.\n
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Three of Walmart<\/a> entities in the country \u2013 Flipkart Internet, which operates the namesake e-commerce marketplace, Myntra and Walmart India, which operates Flipkart Wholesale stores (formerly known as Best Price) that sells goods to mom-and-pop stores, all expanded losses by 40-50% largely due to higher spending on delivering orders, advertisement and promotions, while their revenues grew by up to 45%. \n
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Ikea India\u2019s net loss too went up by 12%, while revenue jumped by 77% in FY22, filings made to the Registrar of Companies and sourced from business intelligence platform Tofler showed.\n