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Katherine Ross [00:01:31]
And what about the retail sector? We're seeing all of these stocks fall tremendously. What are your thoughts there?

Jonathan Corpina [00:01:36]
You know retail sector is something that usually for holiday sales normally gets a boost. It seems like this year has been the opposite of that and we're clearly seeing pressure on that sector there. I don't think everybody was prepared for the impact that that's having on our markets and clearly the impact on those stocks there. We're seeing some of the big major retailer names getting some significant pressure on them. But I think that's something that we're going to continue to watch.

Katherine Ross [00:02:03]
And investors in the retail sector, should they start looking at more defensive sectors do you think?

Jonathan Corpina [00:02:08]
Listen I think your portfolio should always have some areas that can add some padding for you within your portfolio especially with all the volatility that we've seen. The retail sector seems like it's one that has really transformed a lot right. When you have a company like Amazon that's slowly taking over everything in that area there, that competition has become very tough on the brick and mortar space. So I think investors do have to protect themselves in some areas.

The retail sector was hit hard after it released holiday sales.

Jonathan Corpina, senior managing partner at Meridian Equity Partners, discussed the retail sector.

Retailers, such as Target (TGT - Get Report) and Macy's (M - Get Report) , fell in morning trading. TheStreet's Martin Baccardax reported on Target's holiday sales. The company said same store sales for the two months ending in December rose 5.7%, well ahead of the 3.4% pace recorded over the same period last year.

Macy's lowered its guidance, according to TheStreet's Tony Owusu, and said it now expects comparable-store sales to increase 2% in the year, down from its previous estimate of between 2.3% and 2.5%. Net sales are now expected to be flat year over year, down from the previous estimate of a 0.3% to 0.7% increase, Macy's said.

Kohl's (KSS - Get Report) shares fell  after the company reported a 1.2% increase in holiday season comparable store sales, down from the roughly 7% growth it reported last year.

Watch the full interview with Corpina here.

Kohl's is a holding in Jim Cramer's Action Alerts Plus Portfolio