Retail

We would ‘do that all over again’

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Walmart paid $3.3 billion for Jet.com nearly four years ago. Now, it’s shutting the site down

But Chief Executive Doug McMillon said, given the chance, he would do that deal a second time. 

“Absolutely … would do that all over again,” McMillon told CNBC’s Becky Quick in an exclusive interview Wednesday morning. “If you look at the trajectory of our business, it changed when we made that acquisition.” 

“Not only did we pick up Marc Lore … we picked up fulfillment centers — a lot of expertise that ended up paying off,” he said. 

As a result of the deal, McMillon went on, the Walmart brand is now reaching younger and more affluent customers, and also has been able to bring new…



Source cnbc.com

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