Topics covered: Brick-And-Mortar Versus Online Retail Sales - Cautious Consumer Spending - Specialty Hardlines and Softlines Retail - Strong Secular Growth in E-Commerce - International Retail Platforms Companies include: Wal-Mart Stores Inc. (WMT), Target Corp. (TGT), Costco Wholesale Corporation (COST), Family Dollar Stores Inc. (FDO), J. C. Penney Company, Inc. (JCP), Dollar Tree Inc. (DLTR), Kohl's Corp. (KSS), Safeway Inc. (SWY), SUPERVALU Inc. (SVU), Big Lots Inc. (BIG), Macy's, Inc. (M), Nordstrom Inc. (JWN), Saks Incorporated (SKS), The TJX Companies, Inc. (TJX), Ross Stores Inc. (ROST), Apple Inc. (AAPL), Kroger Co. (KR) and many others. In the following excerpt from the Retail Report, an Institutional Investor All America Research Team equity analyst discusses the outlook for the sector for investors: TWST: It sounds like the two extremes - the high-end stores and the lower-end value stores - are doing well while the middle is in the worst shape. Is that accurate?