David Swanson / AFP / Getty Images
The Key Takeaways
- JPMorgan analysts calculated the percentage of retailers with the most stores in the Los Angeles evacuation zone.
- Target came in second place in both the number of stores and percentage in its area.
- Home improvement retailers can profit from local rebuilding, according to analysts.
JPMorgan analysts stated Friday that Target (TGT), is one of the retail companies with the greatest exposure to the wildfires which have been raging in Los Angeles this week.
JPMorgan estimates that sixty-six Target stores (or 3.3%) are in the region impacted. The area includes Los Angeles and Pasadena as well as Glendale, Glendale, Glendale, Glendale, Glendale, Glendale, Glendale, Glendale, Glendale, Glendale, Glendale. RH, a luxury furniture retailer, has four locations or 5% in the affected region. AutoZone has 85 stores or 1.3% in this area.
JPMorgan stated that generally, “natural disasters result in an immediate headwind to sales,” Additionally, home improvement retailers usually experience tailwinds when an area is rebuilt. Home Depot (HD), with 25 stores (or 1.2% of the total), and Lowe’s, with 9 (or 0.9%), are both present in this area.
JPMorgan reported that other retailers who have a large store presence within the wildfire zone include Costco, Williams-Sonoma, Best Buy, and O’Reilly Automotive.
AccuWeather estimates that wildfires caused damages of up to $150 billion and the deaths of at least ten people.
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