Wal-Mart reports that same-store sales grew 2.1% in January

Much of the growth was in health and groceries--about what you'd expect if

  1. People are cutting back on everything they don't HAVE to have
  2. People are trying hard to save money on the things they do need

I'd guess that the recession will be good for Wal-Mart--even if they don't actually improve their profits, they'll come out of it in a better position than most of their competitors.