Retail Sales: Discount and Teen = Good

Bloomberg details:

The Easter holiday, aggressive marketing and deep discounts during April drove more traffic into stores, boosting sales, according to Richard Jaffe, an analyst at Stifel, Nicolaus & Co. in New York. The trend could continue this month, Jaffe said.

“With the second half of 2008 so difficult, we believe that retailers took draconian steps to better position themselves for a challenging and uncertain 2009,” he wrote in a May 4 note.

Higher end stores... not so much.