Over the last year I’ve noticed retail superstore WalMart has been quietly re-branding. Next time you walk into your WalMart, look around. What’s missing? The ubiquitous smiley face. Replaced by a simple sunburst logo reminiscent of the asterisk. Perhaps they felt the need to update to a cleaner, more generic icon for representation thanks to stiff competition from retailer Target. Unlike WalMart, Target understands the idea of a complete brand. The stores, employees, and ad campaigns are young and hip. Target has successfully marketed famous designers working exclusively for them. The red bullseye is enticing and instantly recognizable. WalMart is clearly working to dust off it’s folksy image, but still remains less chic in the world of retail branding. Keep your eyes on them, though. WalMart may move slowly when it comes to an identity makeover, but in the end the tortoise won…