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"During these challenging times, we continued to execute the strategy of building strong local businesses powered in China by Walmart and announced additional investments in China and India focused on positioning the portfolio for growth," CFO Brett Biggs said on the call.

"Delivery at scale will be several times harder than product launches.

"Environmental pollution and climate change are among the greatest challenges facing developing countries, and China has taken a leadership role among developing countries in transforming the nation toward sustainable environmental and energy policies," Biswas said.

"Driven by rationality, cost performance remains one of the most important reasons for consumers to choose domestic brands, even though they are more influenced by quality than price," said Justin Sargent, president of Nielsen China.

"Every month or every week, there's a new guideline that we have to follow, or there are new numbers of cases, so then they closed certain aspects of our business down, or they opened them, and they closed them again," she said.