(Aug. 2) Wal-Mart Stores Inc., Bentonville, Ark., has confirmed its decision to exit Germany and sell 85 supercenters in the process.

A powerhouse in many of its markets globally, Wal-Mart has struggled to achieve the same status in Germany, where the business environment has made it "difficult (for the firm) to obtain the scale and results we desire," Wal-Mart vice chairman Michael Duke said in a news release.

Wal-Mart, which entered the German market eight years ago via acquisitions, said it would sell its German stores to Dusseldorf-based retailer Metro AG – also known as Metro Group.