Two decades after entering South America's biggest market, Wal-Mart Stores' Brazil unit is still struggling to connect with consumers and losing money. While the company's relentless focus on everyday low prices helped it become the world's largest retailer, the strategy isn't working in Brazil where shoppers routinely hit multiple stores to snag the best deals on every item. The retail giant is battling competition from Carrefour and Casino, French retailers that have bought local chains and readily embraced Brazilians' penchant for promotions and bargain hunting. Despite having more than 550 stores in almost 200 Brazilian cities, Wal-Mart hasn't integrated the systems and logistics of its local chains enough to wring out costs as it has done so effectively back home. In its fourth-quarter earnings released in February, Wal-Mart reported that while net sales in Brazil grew 5.3%, traffic to stores declined 3.4%.