Here comes Hurricane Florence
Ready or not, heavy home damage is expected on the mid-Atlantic.
By Friday morning, or late Thursday night, Hurricane Florence was expected to smash into the Carolina coast. It’s the most heavily-publicized storm of the season, and retailers mobilized in the days and weeks in advance of the landfall.
As millions flee the coast for higher ground, the weather watchers at Planalytics are estimating $700 million in lost sales for the consumer/retail sector. “Batteries, flashlights, building materials, and bottled water are among the top items finding their way into consumers’ baskets along the Southeast coast,” the company wrote in a press release. It listed “Home centers” to be among the retail winners of Hurricane Florence, along with gas stations and convenience stores.
Extended power outages, flooding, and wind damage are expected to drive demand for clean-up items such as pumps, saws, and lumber.
Even far inland, the storm is having an impact on hardware stores and their customers. In Charlotte, 200 miles from coastal Wilmington and home of the venerable Blackhawk Ace Hardware, the store’s Facebook page explained that a large shipment of generators was sold out in a day. The site referred customers to ReadyNC.org for hurricane preparedness advice.
Both Home Depot and Lowe’s describe their hurricane management efforts as “around the clock.” Lowe’s says it has shipped more than 1,000 truckloads of critical supplies to areas that will be impacted by Hurricane Florence. The company updates its store hours and closing in Carolina here.
At Home Depot’s Hurricane Headquarters, the company says its stores will remain open as long as its safe to keep them opening. Like Lowe’s, stores in Wilmington and Charleston are among those already closed.
In Atlanta, the company’s Disaster Response Command Center is also monitoring Hurricane Olivia that could threaten Hawaii.
HBSDealer Stock Watch: Wednesday’s Ticker
|Here’s how hardware and building supply stocks performed on Wall Street Monday.|
|BLDR (Builders FS)||17.11||+1.78%|
|BMCH (BMC Stock)||22.60||+0.67%|
|CENT (Central Garden)||40.03||-0.55%|
|DE (Deere & Co.)||147.78||-0.55%|
|HD (Home Depot)||211.98||-0.87%|
|LL (Lumber Liquidators)||17.72||+1.55%|
|SMG (Scotts Miracle-Gro)||77.95||-0.49%|
|TSCO (Tractor Supply)||88.63||-2.27%|
|UFPI (Universal Forest)||38.25||+0.39%|
Emmerson recalls Ridgid wet/dry vacs
Vacuum was sold exclusively at The Home Depot this past spring.
Emmerson Tool Company is recalling Ridgid NXT HD06000 and HD09000 wet/dry vacuums, according to the U.S. Consumer Product Safety Commission.
The vacuums include an on/off switch that can become dislodged and expose energized wiring, posing a shock hazard to consumers.
Consumers have been told immediately stop using the recalled wet/dry vacuum and contact Emerson Tool Company for a free replacement wet/dry vacuum powerhead assembly.
The vacuums were sold exclusively at The Home Depot stores nationwide and online at www.homedepot.com from March 2018 through July 2018 for about $50 for the 6-gallon wet/dry vacuum and for about $60 for the 9-gallon wet/dry vacuum.
About 208,000 were sold in addition to about 2,600 were sold in Canada.