Shares of home-improvement retailers were mixed Friday, as analysts said they stand to both benefit from and potentially get hurt by Hurricane Dorian, which is expected to hit Florida over the Labor Day weekend.
But both retail chains also have a large number of stores in Florida that may flood and be forced to close, according to Jefferies. Home Depot has 153 stores in the Sunshine State, equal to 8% of its overall U.S. network, while Lowe’s has 126 stores, equal to 7% of its U.S. network, analysts led by Jonathan Matuszewski wrote in a note to clients. Smaller rival Floor & Decor Holdings Inc. FND, +1.93% has 18 stores, accounting for 18% of its network.
Don’t miss: As Florida braces for Hurricane Dorian, here’s what you should pack in your ‘financial go-bag’ “We believe benefits to Auto Parts retailers are more likely to accrue post-storm as consumers repair damaged vehicles, and in the event of vehicle replacement, Carvana CVNA, -1.58% would be a potential beneficiary , while Hurricane Irma had limited impact ,” said the analysts.
Bit like over in the UK brexit fear....
alan_friedland prolific