If Sears fails to emerge from bankruptcy court, Best Buy may see a hearty influx of customers and a boost its bottom line, Loop Capital said Tuesday.

Sears filed for bankruptcy protection Monday, an event Loop Capital analyst Anthony Chukumba said "is likely to eventually result in a complete liquidation." This puts Best Buy in a very good position to reap the benefits of Sears' customers, according to Chukumba. He noted that about 85 percent of Sears' stores are within five miles of a Best Buy store.

"We think Best Buy will pick up its fair share — particularly on the consumer electronics side given the fact Best Buy is the 'last man standing' in terms of dedicated national brick-and-mortar retailers," Chukumba said. "We believe Sears' bankruptcy filing is a major positive for Best Buy."