Google officially announced that they have begun replacing the URL within the search result snippet area with a site name and breadcrumb path. As of now, this only affects the mobile search results but may roll out wider with time.
Google said that they have updated their “algorithms that display URLs in the search results to better reflect the names of websites, using the real-world name of the site instead of the domain name, and the URL structure of the sites in a breadcrumbs-like format.”
With this, they are also giving webmasters a way to better communicate the site name and breadcrumb data through structured data schema. The schema markup to specify the site name can be found here, and the schema for the breadcrumb can be found here. It is basically a little extra markup that you can add to your source code in order to communicate these variables to Google.
Here is a snippet of how the search results looked before and after:-
Google said these changes are rolling out gradually and affect only mobile results. The site name change is US-only for now and breadcrumbs are rolling out worldwide.Google Search Replaces URL In Mobile Search Results- Shows Site Name With Breadcrumb Path!,