According to New York Times, Wal-Mart Stores Inc. said Friday it plans to sell its 85 stores in Germany to rival Metro AG, 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.