Shares of Foot Locker, which sells Nike products, also benefit from the sportswear surge, said trader Karen Finerman. The stock has climbed about 6 percent this year.
Grasso also sees upside in teen retailer American Eagle. Its shares have risen more than 4 percent this year.
Tim Seymour (Sold Nokia)
Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JPM, KO, LGF, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO.
Dan is long CSCO Feb calls, EEM Dec put spread, INTC Dec put spread, M long Jan calls, XLF Dec put spread, IWM Dec put spread, XLI Dec put spread, XLU Dec call spread, TWTR March call spread, TWTR, Paypal Jan Risk Reversal
Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long BP, COP, CVX, FCX, MCD, OXY, RIG, SHLD kids own EFA, EFG, EWJ, IJR, SPY
Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, SEDG, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, DIS puts, FL, FL calls, GOOG, GOOGL, GPS, JPM, KORS, KORS call spreads, MA, URI, URI long puts, WFM, her firm is short IWM, SPY, MDY, USO, XRT, Karen Finerman is on the board of GrafTech International.
CORRECTION: This version corrected the hyperlink to Foot Locker's stock price.