Walmart CEO reveals why the company is shutting down Jet.com, and says he would make the $3.3 billion acquisition ‘all over again’ (WMT)

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Walmart CEO Doug McMillon said he would make the $3.3 billion Jet.com acquisition “all over again.” Jet helped Walmart acquire top talent and e-commerce fulfillment centers, he said.  The acquisition was also meant to give Walmart access to Jet’s affluent, urban customers and high-end brands. But over time, the Walmart brand evolved to attract those customers on its own, McMillon said.  Visit Business Insider’s homepage for more stories.

Walmart CEO Doug McMillon on Wednesday addressed the company’s decision to shut down Jet.com, which Walmart acquired four years ago for $3.3 billion.

When asked on CNBC’s Squawk Box

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