Holiday sales are “slightly softer” than last year, he added. “People weren’t in a shopping mood until the end of the season.”
Still, retail and consumer discretionary ETFs have been among the top sector performers in 2012. XLY is up 22.5% year to date, compared with a gain of 15.1% for SPDR S&P 500 (NYSEArca: SPY), according to Morningstar. [Retail ETFs Catch a Bid]
The consumer discretionary ETF rose to a lifetime high earlier this month. [Sector Fund at All-Time High on Retail Sales]
Consumer Discretionary Select Sector SPDR
Full disclosure: Tom Lydon’s clients own SPY.