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German Store Write-off Lowers Wal-Mart Profit
A “post-closing adjustment” related to the sale of its struggling division in Germany reduced second-quarter earnings at Wal-Mart Stores here by $153 million, the retailer said in a regulatory filing.
September 12, 2007
1 Min Read
BENTONVILLE, Ark. — A “post-closing adjustment” related to the sale of its struggling division in Germany reduced second-quarter earnings at Wal-Mart Stores here by $153 million, the retailer said in a regulatory filing. The loss affected by 4 cents per share earnings for the period ending July 31 and originally reported last month. Wal-Mart sold 85 stores in Germany to retailer Metro AG a year ago. It said “recent nonbinding discussions with Metro” led to the readjustment.
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