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Cleveland Research: Best Buy sales trends "encouraging"

  • Best Buy (BBY +3%) shares jump after Cleveland Research analyst Daryl Boehringer issues a note that sales trends in the first half of Q3 at the electronics retailer were "encouraging," particularly in comparison to the overall retail landscape.
  • Boehringer sees market share gains in key categories on the back of store re-designs and raised his Q3 comparable store sales estimate to 2.5% from 1% previously.
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