Some Florida store shelves nearly empty as Milton barrels toward coast
Published On Oct 8, 2024, 3:56 PM
As Hurricane Milton approaches Florida as a powerful Category 4 storm, residents have begun panic buying essential goods such as water, canned food, and other supplies. Many grocery store shelves in central Florida are empty, indicating the high level of concern among residents, many of whom are still recovering from the aftermath of the recently past Hurricane Helene. The National Retail Federation confirms that retailers are preparing to meet the demand for supplies amidst these emergencies, emphasizing the importance of being well-prepared for potential power outages and other challenges presented by hurricanes.
Stock Forecasts
WMT
Positive
The panic buying and increased demand for essential items typically lead to a surge in sales for retailers that can capitalize on this situation, especially grocery stores and big box retailers. Companies like Walmart and Publix are likely to see a brief spike in revenues due to the urgent consumer behavior in response to the hurricane.
HD
Positive
Similarly, given the demand for home improvement and emergency supplies that skyrocket during hurricanes, companies like Home Depot and Lowe's may also benefit, as customers stock up on necessary materials to fortify their homes against the storm damage.
Related News
These are the most costly hurricanes in US history
Oct 11, 2024, 6:00 AM
The U.S. East and Gulf Coasts have been hit by many damaging and deadly hurricanes over the years. Some of the most economically damaging hurricanes have hit Florida and Louisiana.
Labour's new deal for workers: A fight postponed?
Oct 9, 2024, 3:05 PM
The government is unveiling a boost for workers' rights - but many of them won't happen right away.
Hurricane relief efforts: Walmart US CEO says its parking lots are available for cell phone charging, laundry
Oct 9, 2024, 12:26 PM
Walmart is using its parking lots to help storm victims get access to emergency supplies, get a hot meal, charge their phones, do laundry and even take a shower.