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Many say that Wal-mart has "met its match in Europe." (Thorne) Stephen Arnold, a professor at the School of Business at Queens University in Kingston, Canada, believes that Wal-mart will not be able to repeat its success outside of the United States. "Cultural differences are a considerable barrier, particularly in Germany, the ultimate non service culture." (Thorne) International sales reached $47.5 billion in fiscal year ending 2004, a 16.6 percent increase over the previous year, and operating profits rose to $2.3 billion, an increase of 18.6 percent. In 2005, Wal-Mart International plans to open 155 to 165 new stores in existing markets. (Wal-mart website) Wal-mart will continue to have its ups and downs, successes and failures. What is important is that they are learning from each one, good or bad. …
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