Walmart (NYSE: WMT) was struggling to keep pace with Amazon (NASDAQ: AMZN) when Doug McMillon became the retail giant's CEO in 2014. Its superstores were becoming showrooms for Amazon's online purchases, and its own e-commerce initiatives were weak.
But under McMillon, Walmart aggressively expanded its e-commerce ecosystem, matched Amazon's prices and delivery options, renovated its stores, leveraged its brick-and-mortar network to fulfill online orders, and boosted employees' wages.
Walmart also expanded overseas with a stake in China's JD.com and its acquisition of India's Flipkart. Those bold initiatives initially throttled its earnings growth, but they helped it keep pace with Amazon.
Source Fool.com