Article: On Wal-Mart and focus. (Wal-Mart Stores Inc.; music products retailing)(Editorial)

Despite the greatest bull market in the history of Wall Street, the stock of Wal-Mart has remained mired at a two-year low. Sales and profits at the world's largest retailer have continued to grow at a high single-digit rate, and the company continues to expand at the expense of rivals Sears, K-Mart, and J.C. Penny; so what accounts for the lackluster stock performance? In a word, focus. Investment professionals are increasingly concerned that after 25 years of stellar performance, Wal-Mart is facing an identity crisis and management lacks a clear direction. With annual sales of $94 billion, or nearly 20 times the sales of the entire music products industry, Wal-Mart can not ...

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