Word: wertkauf
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...where it discovered a company almost perfectly in tune with its Every Day Low Price (EDLP) culture. But expansion in Germany has been less than stellar, delaying, perhaps, Wal-Mart's move into the rest of Europe. Wal-Mart reached Europe in 1998 when it bought Germany's Wertkauf. A year later it added Interspar, and then mangled the merger in almost every way possible. "We could write a training manual about our experiences in Germany," Scott says. "We really did more things wrong than right." German consumers love low grocery prices, which would make them the perfect clientele...
...world's biggest retailer entered the European market in December 1997 when it bought Germany's Wertkauf chain of hypermarkets. Thirteen months later, it picked up a second German chain, Interspar. In June 1999 it paid $10.8 billion for Asda, Britain's No. 3 supermarket chain. Expectations were high that Wal-Mart would quickly become a major European presence by leveraging its super-efficient sales techniques, high-tech inventory-tracking systems and global sourcing prowess...
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