Report: Electronics Sector Hot

NEW YORK CITY-Commercial electronics could be among retailers’ best-selling items over the holiday season, according to a Lehman Bros. report. The report comes after a survey by the Consumer Electronics Association that says sales of the goods will increase 5% this year, their highest jump since 1999.

The association also says that interest in consumer electronics is at its highest in seven years and 76% of consumers plan on buying such goods as gifts this year compared to 71% last year. And 25% of those surveyed said they will spend more this year than last year, though 22% said they would spend less.

The news prompted Lehman to emphasize that Best Buy remains one of the firm’s top picks. “We believe Best Buy’s consistent outperformance relative to its peers underscores the company’s continued market share gains within the sector,” Lehman’s report says.