Fade the post-earnings rally in shares of struggling electronics retailer Best Buy, Citi says.
“Near-term Best Buy’s same-store sales are still some of the worst in retail with holiday volume a significant unknown,” Citi analyst Steven Zaccone wrote in a note to clients following the company’s earnings report on Tuesday morning.
Best Buy stock popped 12% as the company’s earnings actually beat most Wall Street estimates. The company also managed to work its inventory down by 14% year over…
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