Despite the beating several market sectors have taken because of the rising U.S. dollar, there is one sector that has benefited greatly from it.  That sector is the retail sector, according to Jan Rogers Kniffen, CEO of J. Rogers Kniffen Worldwide and a CNBC contributor. "It's a great thing if you're a domestic retailer that sells almost everything you sell inside the [U.S.] and buys almost everything you buy outside the [U.S.]," he said on CNBC's "Street Signs" on Tuesday. "Who is that? It's Target, it's Macy's, it's Kohl's."  Read More Retail risk factor: Storm hit these stores hardest  The S&P retail index is up about 16 percent from last year, while the dollar has also risen approximately 17 percent in the same period.  Read MoreWeak retail business in Europe hits Seagate revenue  Kniffen added that retailers with a large sum of their business coming from overseas do not benefit as much from the rising dollar as truly domestic retailers.  "It's not as good if you're Coach and one-third of your business is outside the U.S. and all your growth is [outside of the U.S., for example]," he said. "It's really good if you're just this dopey, domestic, 3-yards-and-a-cloud-of-dust kind of American retailer."  Retailers such as Costco and Wal-Mart are less attractive investments right now because of their exposure to international currencies, Kniffen added. Nevertheless, he does not expect either retailer to stop doing sound business. "It doesn't mean great retailers aren't going to do well," he said. "I don't think Costco is going to have any problems just because currencies are a problem."
While many U.S. business sectors are being hurt by the rising dollar, there's one that is reaping its benefits.