-
Home improvement companies could see increased sales after Hurricane Ian, Wells Fargo says
Hurricane Ian is barreling toward Florida after strengthening to a Category 4 storm, and analysts are forecasting billions of dollars in damages. Beyond the impact to human lives, storms of this nature also turn into economic events as people, towns and cities rebuild after extensive damage. Wells Fargo said Wednesday that retail names exposed to the housing theme could see a “possible uptick in 2H Home Improvement demand.” Analysts led by Zachary Fadem said that these companies, including those in the flooring and auto part industries, tend to benefit from hurricane preparation and clean-up activity. Fadem pointed specifically to Home Depot , Lowe’s , O’Reilly Automotive and Floor & Decor…