Welcome to the 68th installment of The Wal-Mart Weekly, a column dedicated to bringing you insight, wit, facts, results, opinions, and just a bit of everything else when it comes to a very hot topic these days: Wal-Mart.

This week, I'll be taking a look at the most recent financial results from Wal-Mart Stores Inc. (NYSE: WMT). The retailer continues to state the the federal tax economic stimulus checks being used by customers in its stores have buoyed it results.

Overall, this is good news. When the tax stimulus checks run out, though, will Wal-Mart continue to post such great sales figures like it did in June 2008? Remember June 2007?

Last summer, Wal-Mart also easily defeated analyst calls and toasted the expected same-store sales growth. Is seasonality more a part of the picture than tax checks? How about gas pricing stamping out multiple shopping trips by many families? All of this contributes, I would posit.

Wal-Mart Stores, Inc. (NYSE: WMT) continues to get slammed from the media and retail critics as not changing and reacting fast enough to stay ahead of the retail discount crowd these days. Sure, the company is making record amounts of revenues (profit margin is another matter), but the company's monthly same-store sales stats and quarterly results aren't comparing to established expectations, nor are they outshining results from competitor Target Corp. (NYSE: TGT).

It's hard to measure Wal-Mart against any other retailer just based on its sheer size, merchandising prowess, and customer availability (supercenters seem to be everywhere these days), but the company has clearly made some strategic errors of late that have impacted results. While I'm not sure which traffic drivers Wal-Mart plans on to get feet in the door (then selling as much as possible to that captive audience), its recent admission of apparel planning mistakes seems to underscore the challenges the world's largest retailer has in trying to get its shine back.

While sales in the U.S. continue to get a collective "yawn" from market pundits and journalists, the company's about-face move in international retail seems to be moving rather fast as the company wants to reap more sales and margin from those markets than from the U.S. market (which takes time investors are not willing to give, it seems). Wal-Mart's recent partnerships with China's Trust-Mart and India's Bharti state to the world that Wal-Mart is serious about its international plans, even in the face of market withdrawals in Germany and South Korea in 2006. The rumor that Wal-Mart may be looking to acquire or take a stake in Indian logistics and retail distribution company Radhakrishna Foodland says that Wal-Mart is placing a pretty good deal of importance into rapidly-expanding markets (India is at the top of that list with China).

With Wal-Mart Stores Inc. (NYSE:WMT) desperate for an international hit -- hoping it would take the spotlight off sagging U.S. sales and tarnished reputation -- the world's largest retailer has announced Monday that it has acquired a 35% ownership stake in the Trust-Mart chain that operates in China.

The agreement is for Wal-Mart to purchase the controlling stake in Bounteous Company Ltd., which operates in China under the Trust-Mart banner used in over 34 cities in China. When all else fails in certain international markets, just buy into an already-successful one, right? I doubt Wal-Mart will want to do anything different with the influence it will bring with this non-controlling interest -- except to help share in the profits Trust-Mart brings.

Although this is a good move for Wal-Mart in its international marketplace, this little quip from Wal-Mart Vice Chairman Michael Duke (who's in charge of international market expansion) had me rolling: "...what we do best -- serving our customers with improved service, high quality, innovative products and lower prices."

High quality? Very doubtful at Wal-Mart these days, and a main reason I do not shop there. Innovative products? Sorry, but at least in the U.S., Target has Wal-Mart beat all over the place. Perhaps Chinese consumers will get "innovative products" there. Lower prices? Okay, I can agree with this one. Heh.