The following video is part of our "Motley Fool Conversations" series, in which Brian Andrews, Foolish scrum master, and consumer goods editor/analyst Austin Smith discuss topics across the investing world.

In today's edition, Brian and Austin discuss how one once-iconic company has lost focus in the retail space, and they clearly outline three things it could do to be great again.

Austin Smith and Brian Andrews have no positions in the stocks mentioned above. The Motley Fool owns shares of Wal-Mart Stores. Motley Fool newsletter services recommend Wal-Mart Stores. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.