Laura Champine, senior retail analyst for Cowen & Co., has been at the mall, shopping for good retailers, and she's got some very definite ideas about the few positive trends out there.
"Spending on 'grown-people' clothes, suiting and such, will be under pressure," she said. "You really want low tickets, and you want product that appeals to people's kids."
"I really like Aeropostale," she said. "It's a teen retailer, and it's the most promotional retailer in the mall. I think that's where we need to pay attention."
She sees teen retailer American Eagle Outfitters as "a cheap stock right now." And there are more.
"Urban Outfitters is out with quarterly sales today," she said. "They comped down only 1 percent on top of up 11; that's a phenomenal result."
On a broader scale, she also likes Walmart.
"I think it makes sense for Walmart to keep gaining share," she said. "It's the perfect concept for this environment, always the lowest prices, all the time."