Beaten Wal-Mart checks out of Germany

Asda owner Wal-Mart is ending its loss-making business in Germany, just two months after leaving South Korea in what analysts welcomed as a move to focus resources on more profitable international markets like China and Latin America.

The US company said yesterday it planned to sell its 85 stores in Germany to rival Metro AG, ending a nearly decade-long effort by the world’s largest retailer to crack the market in Europe’s biggest economy.