A PLACE WHERE WAL-MART ISN'T THE NUMBER ONE TOPIC

U.S. food retailers spend so much time thinking about the Wal-Mart challenge that it's hard to imagine the same intensity of thought wouldn't occupy European retailers. After all, Wal-Mart is now in both Germany and the United Kingdom, and has further designs on The Continent.Yet during a trip to Europe late last month, I found Wal-Mart was not the most pressing subject for European retailers and

U.S. food retailers spend so much time thinking about the Wal-Mart challenge that it's hard to imagine the same intensity of thought wouldn't occupy European retailers. After all, Wal-Mart is now in both Germany and the United Kingdom, and has further designs on The Continent.

Yet during a trip to Europe late last month, I found Wal-Mart was not the most pressing subject for European retailers and suppliers. Sure, executives are monitoring the movements of the Bentonville giant on The

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