The confident outlook from Nordstrom and Ralph Lauren is in sharp contrast to peer Kohl's KSS.N and big-box retailers Walmart Inc WMT.N and Target Corp TGT.O, which have taken a beating as runaway inflation squeezes consumer spending. Net sales across Nordstrom banner stores exceeded pre-pandemic levels in the first quarter with a 23.5% jump as Americans returning to offices and social events snapped up designer apparel and footwear. Earlier in the day, Ralph Lauren RL.N also forecast improved full-year margins as demand for luxury apparel stays strong in top markets North America and Europe.