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Best Buy, Inc. (NYSE: BBY) is expected to take possibly 50% of the business that would have gone to former competitor Circuit City, with the other half being distributed among every other large retailer that sells consumer electronics. Due to that market share capture, the largest consumer electronics retailer in the U.S. saw its stock price upgraded more than a few times in recent weeks.According to notes from the upgrading firms, Best Buy's good prospects for sucking in those "would be" Circuit City purchases and the loosening grip of credit from banks make BBY shares an attractive purchase right now. When the retailer reports Q4 earnings a week from tomorrow, it will be interesting to see what company executives say about how the retailer is going to court and keep Circuit City shoppers to bolster revenue this year moving forward.
Regardless of how large Best Buy really is, one fact remains: it's truly the only coast-to-coast consumer electronics big-box retailer that exists now. Sure, competitors like Wal-Mart Stores, Inc. (NYSE: WMT) and warehouse clubs will compete with Best Buy, as will regional consumer electronics retailers. But Best Buy's entrenched status and grip on the national marketplace where it competes will keep it one step ahead for the near future.
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