NEW YORK (TheStreet) -- Shares of Walmart Stores (WMT) were increasing in late-morning trading on Wednesday as several members of its e-commerce management are leaving the company, according to the Wall Street Journal.
Walmart.com CEO Fernando Madeira will exit the company after helping Walmart with its Brazilian website and other projects, the Journal reports. Diane Mills, Walmart's senior VP of global e-commerce human resources, is also leaving the retail giant.
Brent Beabout, the company's senior VP of e-commerce supply chain, left a few weeks ago and will be succeded by Jet.com co-founder Nate Faust, who will head fulfillment operations for Jet.com and Walmart.com, the Journal noted.
The moves come after Walmart acquired e-commerce site Jet.com for $3 billion in August.
The departures indicate that Walmart's e-commerce operations will be overhauled as Jet.com CEO Marc Lore works to revitalize Walmart's sluggish e-commerce sales, the Journal added.
Among several other changes, Walmart plans to integrate Jet.com's "smart basket" technology on its website, which lowers the price of a buyer's purchases based on certain conditions.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Walmart as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in net income. The team feels its strengths outweigh the fact that the company shows low profit margins.