As the quarterly earnings season winds down and several big-box retailers are set to report this week, one portfolio manager is cautioning some investors who may look to beaten-down brick-and-mortar retail stocks as a value play.

Particularly for some clothing and accessories names, this year has been a struggle, said Erin Gibbs, portfolio manager at S&P Global. She is expecting a mere 8 percent earnings growth for the group next year, which strikes her as concerning especially when the e-commerce space is booming.

“They’re facing some tougher [year-over-year comparisons] and next year might also be another tough year for retailers. This is one of those areas where you could get into a value trap; some of these retailers really are trading at discounts, but that’s because we’re expecting lower earnings,” Gibbs said Wednesday on CNBC’s “Trading Nation.”

“You really need to be selective,…