Best Buy, Others Seen Benefiting From Circuit City Closing
A variety of retailers- led by Best Buy, Walmart and Amazon.com- are seen as most likely to benefit from the demise of Circuit City. That's according to a survey of analysts by Dow Jones Newswires.
Analysts surveyed said that between 30 and 40 percent of Circuit City's sales will shift to Best Buy, with discount retailers (led by Walmart, Costco and Amazon) picking up much of the rest. The retailers are expected to split a pie between $6.5 billion and $8 billion in annual business left behind by Circuit City, which announced last week that it would liquidate.