This article examines the sales growth of U.S. businesses as of 1993. As the full scope of the economic program of U.S. President Bill Clinton is unveiled, retailing analysts fret that consumers will stop spending. Retail trade in March was down 1% from a year before, a drop the industry blamed on lousy weather. While giant chains are still growing fast, they may be running out of room to add stores without cannibalizing existing units. Even as the industry leaders run into trouble, though, new retail stars are scoring big earnings gains and catching on with investors. Amid the first-quarter gloom, smaller specialty retailers and off-price outlets turned consumers' drive for value into healthy profits.