The challenges Wal-Mart faces today are actually not much different from what they have been for the past several years. These following quotes come from an article in April 2003: Even though it is the nation's largest apparel retailer with more than 12 percent of the market, Wal-Mart could be doing better in this cat- egory": "It would like to be a fashion retailer and take on Target with good quality at a low price-point, but it hasn't convinced the American consumer it should be a destination for casual fashion "Wal-Mart is... look ing abroad for future sales growth". "Wal-Mart will need to struggle against the urge to centralize opera- tions and eliminate decision making from the front- ines where managers have face-to-face contact with customers and "The only area in which Wal-Mart has not been able pummel its competition is against to Costco." 4 of company's challenges may be One the to stop proliferating nearly identical sets of challenges each year. Like the stock price, the challenges appear to be stuck in a holding pattern.