however, Walmart's continued expansion forces more drastic actions. Comerci had a bad year in 2010 where it had to restructure debt from losses resulting from foreign currency derivatives bets that resulted in heavy losses. In 2011, it announced that it was ready to expand by opening new stores. Comerci also entered into several strategic alliances, including one with U.S.-based Costco, a major competitor of Walmart, where Comerci owns 50 percent of Costco Mexico. In 2007,Gigante sold its supermarket chain to Soriana to expand by acquisition and gain grater purchasing efficiencies for its larger network of supermarkets.