Pursuits
Wal-Mart to Shake Up Online Team, Cut Prices in Amazon Fight
- Retailer looks to boost its selection after buying Jet.com
- Jet employees will take on greater role in Wal-Mart operation
Wal-Mart Stores Inc. signage.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Wal-Mart Stores Inc. is overhauling its e-commerce team and elevating executives from its recently acquired Jet.com business, aiming to better challenge Amazon.com Inc. with more selection and lower prices.
The changes are meant to make Wal-Mart more “customer-centric,” Jet founder Marc Lore, who is now CEO of Wal-Mart’s e-commerce operation, said in a memo Friday that was obtained by Bloomberg. Wal-Mart bought Jet in September for about $3.3 billion, turning to the startup to bolster an online operation that has lagged behind Amazon.