Abella said he is "reasonably optimistic" about the sector and does not think retailers sacrificed December sales with their late-November sales push.
Why? Despite persistent high unemployment, "there’s a consumer mindset right now to spend," Abella said, even though "we’re still in a very slow growth part of the economy."
Macy's did very well thanks to its promotions, he said.
He also likes Wal-Mart Stores "defensively... It did have some great sales. I think it’s a good defensive place to be. It has a great valuation and could do well going forward, as the economy improves more."
If you're looking for online retailers, his pick is Amazon.com , while in the luxury segment Nordstrom did well. "Upscale shopping is still the place to be and probably will be for now," he pointed out.
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Disclosure information was not available for David Abella or his company.