Grocers and home improvement retailers are some of the companies that may see continued business growth in the wake of Tropical Storm Irene's departure, an analyst said Tuesday.
As Irene aimed for the East Coast, consumers ran out to pick up emergency supplies like food, water, batteries and generators, a boon to stores where they shopped.
Investment Research analyst Deborah Weinswig says consumers will probably continue to stock up on goods this week as they recover from the storm's battering over the weekend.
"We expect consumers to replenish supplies in the coming week, as power outages likely spoiled food, while flooding and transit delays kept consumers from traveling to stores," she wrote in a client note.
Weinswig said Kroger Co. ( KR - news - people ) and Safeway Inc. ( SWY - news - people ) were likely least affected by the hurricane, with only 10 percent and 4 percent of their respective store bases exposed to Irene.
Kroger's stock fell 27 cents to $23.08 in afternoon trading, while shares of Safeway added 6 cents to $17.86.
Article Source: http://www.forbes.com/feeds/ap/2011/08/30/business-specialized-consumer-services-us-irene-retail-sector-snap_8650421.html
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