Consumer electronics have replaced apparel as holiday must-haves. And retailers like Best Buy Co. have reaped the benefits.
But Brian Nagel, electronics sales analyst at UBS, says those benefits are proving somewhat elusive this year. He told “Morning Call” that Best Buy’s earnings – which rose 8.7% in the third quarter, ending Nov. 25 -- missed his firm’s expectations, and said its sales for the holiday period so far would have been weaker if not for strong flat-panel television demand.