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Best Buy Sees Jump In PCs, Mobile, Flat PanelsBest Buy Sees Jump In PCs, Mobile, Flat Panels
While it might not be time just yet to break out your Ethel Merman version of "Everything's Coming Up Roses," Best Buy shares were trending up on an analyst report that the retailer is seeing strong sales of mobile phones, computing devices, and flat-panel TVs.
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While it might not be time just yet to break out your Ethel Merman version of "Everything's Coming Up Roses," Best Buy shares were trending up on an analyst report that the retailer is seeing strong sales of mobile phones, computing devices, and flat-panel TVs.Referring to Piper Jaffray analyst Mitchell Kaiser, SeekingAlpha.com reports that various fundamentals are looking better for the big retailer:
Kaiser writes in a research notes that comp store sales are improving: he now sees FY Q2 comps down 4.8%, while the Street sees a 6.1% drop. He expects August quarter EPS of 44 cents, ahead of the Street at 40 cents. "We have confidence in our increased Q2 estimates as our checks indicate an accelerating comp trend as the quarter progressed, driven by strength in mobile phones, computing and flat panel TVs," he writes. Kaiser thinks market share has improved from Q1, "helping to offset much of the broader industry weakness."
Sounds good for Best Buy. And speaking of Ethel Merman and stuff that sounds good-or not so much-you haven't really lived til you've heard Ethel Merman's live disco version of "Everything's Coming Up Roses": check it out. But, caveat emptor.
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