Walmart On The Hunt For New E-Commerce Executive Amid Online Revenue Losses

Walmart (WMT) is reportedly on the hunt for a new chief revenue officer for its U.S. e-commerce business. Scott Hilton, who formerly assumed the role, left the company in May, Bloomberg reported.

The new executive assigned to the role will report to Marc Lore and create the strategy that Walmart will use against Amazon, Target, and others in the e-commerce business.

Lore and Hilton were longtime friends, who worked for Jet together, which was acquired by Walmart in 2016. During this time, the two moved into senior executive positions in Walmart’s online business, revamping the company’s digital offering with new products, an enhanced website, and free two-day delivery on orders of $35 or more, according to Bloomberg.

Walmart has come under increasing pressures with its online business as the company has reportedly stacked up revenue losses in this area. Walmart, which comes in second behind Amazon in online sales, expanded its online revenue by 40 percent last year. However, the company reported a loss of $1.7 billion this year, up from the $1.4 billion reported last year, according to Morgan Stanley estimates.

To combat its e-commerce losses, Walmart has focused on its Jet offering and encouraged shoppers to pick up orders in-store to help with its delivery costs. The company has also rolled out next-day delivery services in 28 states to compete with Amazon’s one-day delivery option for Prime members.

Hilton is not the only executive to depart the company as of recently. The chief technology officer Jeremy King reportedly left in March and is working at Pinterest while Darren MacDonald, vice president and general manager of entertainment products at Walmart now serves at Petco’s chief digital and innovation officer after his June departure from the company.

Shares of Walmart were up 0.33 percent at market close on Monday.