Investing.com -- The retail sector continues to feel the weight of inflation and shifts in consumer spending habits.
The XRT is down 4.6% for the month so far, down 11.5% for 3 months, and 2.8% so far this year, according to Morningstar. Rising inflation has crimped household budgets and forced consumers to make choices at the cash register between discretionary items such as apparel and necessities such as food. Retail results have been mixed so far this earnings season, with some companies reporting drops in same-store sales, while stores catering to more affluent shoppers haven't seen a big economic effect yet.
Analysts expect Nordstrom to report adjusted earnings per share of 10 cents on revenue of $3.1 billion, with same store sales falling compared to the same time last year. Shares of the department store operator are down 6% ahead of that report.
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