Home Depot sees sales boost from hurricanes
Updated:8 years, 2 months ago
New Delhi, Nov 15 (ANI):The hurricanes that devastated Texas, Florida and Puerto Rico have boosted business at Home Depot. The home-improvement chain saw a surge in the last quarter and expects to continue through the rest of the year as hurricanes Harvey and Irma drove customers to stock up on emergency products and rebuilding materials for the aftermath. According to Home Depot, the revenue from Hurricanes added roughly $282 million to the total sales for the third quarter. Backed by the strength in the housing market and expected sales from the hurricane recovery, the home-improvement chain raised its profit forecast for the third time this year and its shares have also climbed more than 20 percent. In the aftermath of hurricanes, the home-improvement chain has benefited from the sale of storm-related merchandise such as generators, batteries and rebuilding materials.
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