Since June, the stock's performance has trailed the rest of the retail group.

The Colorado clothing retail group went into receivership on 30 March 2011.

"As a result of these and other factors, we are not recommending the retail group," he said.

"The retail group as a whole may not be good for the theme," he said, "but there are some great stocks."

Sears continued to make progress in cutting the costs of its retail group, reducing expenses by $103 million from last year's third quarter.

Retailers include those with shops, without shops and retail groups.

The board has already moved to expand the retail group.

The retail group estimated that some 12 million consumers waited until the last week to start their Christmas shopping.

The retail group had revenues of $22 billion in the first nine months of the year.

Other large retail groups handle a diversity of goods, which are again competitively priced, and made available in prime shopping areas.