Germany Retailer Says It Will Reflag Wal-Mart Stores In Germany

From International Herald Tribune:

German retailer Metro AG’s Real division said Friday it would reflag 80 percent of Wal-Mart’s former stores in Germany under its own name and close 15 of them by mid-2007.

Metro bought Wal-Mart’s German stores earlier this year, and has already renamed six of them as Real markets. Real said in a statement that it would also close the former Wal-Mart headquarters in Wuppertal by the third quarter of 2007.

“The Real marketing network will be strengthened for the long-term through taking over of most of the Wal-Mart branches,” the statement read.

“These locations are an outstanding geographical and strategic fit for Real and will provide a clear improvement of the company’s position on the German market.”

Posted by Vasudha Desikan on Wednesday, February 21, 2007

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