GERMANY: WAL-MART TO CLOSE MORE STORES
According to a report in Financial Times Deutschland Wal-Mart's German unit will close an additional three stores and drop its presence in the country to its lowest level since it entered the German retail market in 1997/98. Wal-Mart Germany plans to close stores in Sigmaringen, Dusseldorf-Reisholz, and Muehldorf with the newest closures dropping the total number of stores to 85. "Despite the unavoidable closure of the three locations that we regret very much, our large investments underscore our long-term commitment to the German market," said David Wild, Head of Wal-Mart Germany.
On March 31, Wal-Mart Stores Inc. will begin downsizing in the United Kingdom, when its Asda subsidiary opens a small convenience store in the town of Northampton, England. The move is a first for Asda, which has so far operated only giant superstores in out-of-town locations.
The new Tarjay in my town is moving right along, opening sometime this Spring a stone's throw away from the Evil Empire. I can't wait!