Wal-Mart pulling out of German market

[The Sushi Bandit]

http://www.usatoday.com/money/industries/retail/2006-07-28-walmart-germany_x.htm

BERLIN (AP) — Wal-Mart Stores (WMT) said Friday it plans to sell its 85 stores in Germany to rival Metro, a move that effectively ends a nearly decade-long effort by the world's largest retailer to crack the market in Europe's biggest economy.
Terms were not disclosed, but Wal-Mart said it expects to incur a loss before taxes of about $1 billion related to the deal in its second quarter.

It would be the U.S.-based company's second international withdrawal this year. Wal-Mart pulled out of the highly competitive South Korean market in May. The retailer is concentrating on expanding in China and Central America.

[asthmaticeog]

1. Gut.

[Amonester]

2. Good riddance!

That's a start... :party:

[marmar]

3. Too bad, so sad...

OK, maybe not. :bounce:

[achtung_circus]

4. My uncle and I were discussing this last weekend.

He knows a man, fairly high up in the Wal-Mart structure. Fluent German, married to an Austrian, knows the culture, the whole 9 yards. He applied for the job as head of German operations and was turned down as being "too German".

Whatever that means.

[Pithlet]

5. Duplicate.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=2418944