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Electronics, Media Companies Surge on May Retail Sales

12 Jun, 2008 By: Erik Gruenwedel

Shares of consumer electronics retailers Circuit City Stores Inc. and Best Buy Co. Inc., as well as select media companies including The Walt Disney Co. and Time Warner Inc., rose slightly June 12 after the federal government reported a 1% increase in May retail sales. Experts contend retail trends often indicate commensurate spending on entertainment. Matthew Fassler, analyst with Goldman Sachs, in a research note, said Best Buy sales increased 3.7% in May, the largest increase since Nov. 2007.

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