Evidence that the economic recovery is creating a "new wealthy class" while leaving others to struggle is showing up in department stores and other luxury retailers that are outperforming their convenience store cousins.

A showcase on the sixth floor of Takashimaya Co.'s Nihonbashi department store in Tokyo, for example, is stocked with Swiss watches by Franck Muller.

"Several watches priced at more than 10 million yen have been sold," said sales manager Ichiro Nakamuta.