BJ's, Lowe's, Home Depot may see sales surge from Idalia rebuild: analyst
BJ's Wholesale Club Holdings Inc. (BJ), Lowe's Cos. (LOW) and Home Depot Inc. (HD) will likely book sales increases in Florida as rebuilding efforts begin after Hurricane Idalia, D.A. Davidson analyst Michael Baker said in a research note on Wednesday. Historically, Home Depot and Lowe's have seen "hurricane-related bumps of several hundreds of millions of dollars", which have helped comparable store sales by up to 1.75%, depending on the severity of the storm, Baker said. BJ's, Lowe's and Home Depot should see the biggest positive impact on their revenue but comparable sales boosts may be muted by the impact of an active Atlantic storm season in the past two years, Baker said. BJ's and Lowe's were both up by about 0.8% while Home Depot advanced by 0.7% in recent trading.
-Steve Gelsi
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08-30-23 1114ET
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