The "Fast Money" traders debated which retail stocks could outperform the others this holiday season.

Trader Brian Kelly said he's keeping an eye on Amazon because he feels it has not performed well so far this holiday season. Amazon shares have fallen 5 percent in the past three months.

Kelly explained that the prevailing narrative in retail is that Amazon is outperforming the rest of the sector, but the online retailer's stock performance doesn't necessarily reflect that.

Trader Steve Grasso disagreed and said the company could report "explosive earnings."

Trader Guy Adami said he's interested in Gamestop, despite the short interest and negativity on the company. He said he's seen a lot of people in the stores and said the company could surprise when it next reports earnings.

Disclosures:

GUY ADAMI

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.

STEVE GRASSO

Steve Grasso's firm is long: VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF, AGN, BIIB, REGN, SPY, GLD. Grasso is long: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, SQ, T, TWTR. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts.

BRIAN KELLY

Brian Kelly is long Bitcoin, TLT, U.S. 30-year Treasury bonds. He is short the euro, Australian dollar and British pound.

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM, short: EEM, SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM