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

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.

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.

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