NEW YORK (TheStreet) -- With consumers making a comeback with their spending, the retail sector is poised for growth, said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management, in an interview with TheStreet.

"Consumers had largely gone into hibernation," Wiegand said. Retail sales rose 1.2% in May, the Commerce Department said on Thursday, compared with a mere 0.2% increase in April.

Nonetheless, retail stocks have performed quite erraticly as of late, he said and their results have been been sector and company specific.

The retail sector will see a rebound, Wiegand said, noting to investors that "it will be very important to choose your points."

Indeed, names like Lululemon  (LULU) reported better-than-expected earnings earlier this week and Under Armour's  (UA) share price rallied in early June amid an analyst upgrade. And the SPDR S&P Retail ETF  (XRT) has risen about 3.5% since the start of the year. This all shows the potential for higher earnings throughout 2015. 

Wiegand said the consumer is feeling "healthier" but has tended to lean toward buying more durable goods, such as homes and autos.

But in a rising interest rate environment, Wiegand plans to refrain from investing in stocks in the utilities and telecom sectors -- areas that are sensitive to higher interest rates. Instead he favors the financial sector.

Many expect the Federal Reserve to lift rates higher this year, and higher interest rates bolster margins for banks. 

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