Retailing giant Wal-Mart is bidding Auf Wiedersehen to Germany. The Metro retail chain will take over Wal-Mart's 85 German stores. Wal-Mart Germany's CEO David Wild said mistakes were made.Some places like Germany,New York City,and Chicago are hostile to commerce.
Wal-Mart moved into Germany in 1998, hoping to repeat its phenomenal US success in Europe's biggest economy.
It didn't turn out that way. From the beginning, Wal-Mart found its American approach to business did not quite translate into German.
''As we focus our efforts on where we can have the greatest impact on our growth and return on investment strategies, it has become increasingly clear that in Germany's business environment, it would be difficult for us to obtain the scale and results we desire,'' Michael Duke, a vice chairman of Wal-Mart, said in a statement.
Friday, July 28, 2006
Wal-Mart Leaves Germany
Wal-Mart reports:
