At Wal-Mart's annual meeting last week, CEO Lee Scott unveiled what may be a subtle shift toward making the store more "upscale" in some respects. The company is doing fine selling goods in massive quantities to lower- and middle-income shoppers who patronize Wal-Mart because, in Scott's words, they "have to save money." But these customers can get tapped out. Indeed, the retailer's same-store sales have been plodding along, increasing less than 3 percent per year.

To grow more rapidly, Scott said, Wal-Mart needs to attract customers with lots of discretionary income who shop where they want to. So Wal-Mart plans to appeal to them by improving the quality of its clothes and goods and by stocking more "organic and natural food."

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