Retailer Exposure Assessed Ahead of Hurricane Matthew Impact - BTIG (AAP) (HD) (DLTR)
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BTIG mulls exposure levels of retails in the Southeast as Hurricane Matthew bears down on Florida and the East Coast. The firm noted today:
"Further potential impact is unknown at this time. In terms of exposure to Florida specifically, Advance Auto (NYSE: AAP) has the highest exposure in the BTIG Hardlines Universe with 10% of its company-owned U.S. stores located in Florida. Home Depot (NYSE: HD), Pier 1 (NYSE: PIR) and Dollar Tree (NYSE: DLTR) are the next most highly exposed with 8% of their U.S. stores located in Florida. We also view Lowe’s (NYSE: LOW) as highly exposed with 7% of its U.S. stores in Florida and the propensity for a spike in sales of storm-preparation items. We are not currently factoring GA into our analysis as only a relatively small percentage of that state’s population appears to be at risk.
■ Florida exposure (% of U.S. stores in state)
■ Highest exposure: AAP (10%), HD (8%), PIR (8%), DLTR (8%)
■ South Carolina exposure (% of U.S. stores in state)
■ Highest exposure: Dollar General (4%)(NYSE: DG), AAP (3%), LOW (3%)
■ Eastern Seaboard (% of U.S. stores in region)
■ Highest exposure: AAP (29%), LOW (22%), DLTR (21%), DG (20%)
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