Brace yourself: Here come the retailers' earnings. With back-to-school sales reportedly lackluster this year, what looks good to the people who look at retail stocks?
Patricia Edwards is managing director at Wentworth, Hauser & Violich.
"I think, for the most part, managements have been pretty smart," she told CNBC. "What we're going to see, though, is who's going to separate the men from the children as far as the retailers are concerned."
So which stocks does she recommend?
"We believe that WalMart still is in the midst of their turnaround," she said. "People will be trading down there, and we think that's a good holding for the long term."
But size and price are not her only parameters.
"On the other end, we like Nordstrom," she said. "We think they are some of the best retailers out there; they've got some of the best systems, and when the upper-end consumer comes back -- and they will come back first -- they should benefit the most."
Edwards, her family and her firm all own shares of WalMart and Nordstrom.