Sears sees investment rating trimmed

By Staff -- Home Textiles Today, 1/16/2002 12:00:00 AM

New York — Looking for more top-line growth at Sears, Roebuck and Co., the nation's fourth-largest retailer, Goldman Sachs analyst George Strachan modestly trimmed his investment rating on Sears stock to "market outperform," and removed the retailer from the company's recommended list.

While taking Sears down a peg, Strachan still remains relatively bullish, and said in a research note, "Sears remains a dominant hardlines franchise with a solid credit portfolio and compelling cost savings opportunities still ahead; to achieve further multiple expansion, we believe Sears needs to demonstrate top-line growth."