Wal-Mart has no intention of pulling out of Germany, but it will close some stores, the company has confirmed. The news follows weeks of press speculation that Wal-Mart Germany was planning a raft of closures to stay afloat in a country where it has so far failed to make a profit after five years. Wal-Mart Germany md Dr Kay Hafner said the company would close a store in Ingolstadt and merge two stores in Wilhelmshaven into one. However, new stores would open in Gross-Gerau (August 2002) and Berlin (next year), "plus several others which we will announce at a later time". He said: "The new openings underscore our long term commitment to the German market." {{NEWS }}