Economy woes - Wal-Mart okay - High end retail not

Interesting article in USA Today on retail sales numbers and the economy. It points out who's still not doing well and who is:

As merchants announced their August sales results, Wal-Mart Stores (WMT), the world's largest retailer, reported a solid sales gain that beat Wall Street forecasts as it benefits from consumers sticking to low-price operators. But mall-based apparel stores such as Wet Seal (WTSLA), Gap (GPS) and Limited Brands (LTD) remained in the doldrums. And high-end retailers Saks (SKS) and Nordstrom (JWN) posted weaker results as their affluent customers start to feel pinched.

"Consumers are spending on necessities and looking for value and the lowest price possible. And it's reflective again in the results that we are seeing," said Ken Perkins, president of research company RetailMetrics.

The International Council of Shopping Centers-UBS sales tally rose 1.7% in August, below the 2% forecast. Excluding Wal-Mart, the results were unchanged from a year ago. Last month's pace was below the 2.3% average since the beginning of the industry's fiscal year in February. The tally is based on same-store sales, or sales at stores opened at least a year, and are a key indicator of a retailer's health.