Wal-Mart says adios to Germany for the time being

Wal-Mart says adios to Germany for the time being

World’s largest retailing chain Wal-Mart has confirmed that they are now exiting from the German market.

They are selling off their underperforming German stores to the local giants Metro and this retreat is going to cost them a massive USD 1 billion.

Wal-Mart’s vice chairman Michael Duke spoke on this decision to quit the German market: “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.”

Wal-mart has always struggled to dominate in this market where they entered around eight years ago. The country is known for consumers who don’t like to spend and wal-mart need volumes to generate profits.

The company now plans to enhance focus on growing markets like the China, South and Central America and India.