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Walmart overhauls as online business fails to deliver results

WASHINGTON (Reuters) – Walmart Inc on Wednesday announced a sweeping overhaul at, an e-commerce retailer it acquired in 2016 for $3.3 billion, and said it will eliminate the online business’s president.

Walmart said it will integrate’s retail, technology, marketing, analytics and product teams with its own e-commerce business and current president of Jet, Simon Belsham, will leave in early August.

Walmart’s move reduces the scope and importance of in its overall U.S. e-commerce ambitions of taking on Inc and growing its online revenue in the United States, according to interviews with six vendors, two consultants and three Walmart employees., which was expected to boost Walmart’s reach particularly with city dwellers and millennial shoppers, has not lived up to the retailer’s expectations of becoming a driver for online grocery sales and growing market share in urban areas, the sources added.

The retailer has previously said it expects losses from its online business, including, to increase this year, without giving additional details.

Going forward, Kieran Shanahan, who oversees Walmart’s food, consumables, health and wellness categories, will be responsible for’s strategy and management, in addition to his current role.

Reporting by Nandita Bose in Washington; Editing by Lisa Shumaker