I will bet against Walmart. They have a high cost structure for their existing stores which makes them vulnerable to hard discounters but they also invest a lot of money into their online ventures to fight Amazon. It's a battle on two fronts and will rip the company apart.

In the past, Walmart failed hard in Europe but ALDI and Lidl even conquered UK and Australia. As you might now, Europe is far away from a single culture and yet both chains were able to win in every country due to adoption and experience. While they are no franchise concept, there strategy reminds me of McDonald's.