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Wal Mart to open store in Hungary

The world's largest retailer Wal-Mart intends to expand its marketing activities in Central and Eastern Europe, including Hungary, business daily Világgazdaság reported on Tuesday. Wal-Mart CEO Lee Scott said that the company was planning to open superstores in Hungary, Russia and Poland but only on a small scale at first, Világgazdaság said, citing an interview carried in the Financial Times. Wal-Mart realized USD 285 billion in profits in 2004, 21% of which was realized in the United States. The company has a chain of superstores in many countries, mostly in Mexico, the United Kingdom and Canada.