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Houston stores facing flood devastation

Tuesday, September 12, 2017  
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By:Jon Springer | Aug 28, 2017

floodbusiness.jpg

People walk down a flooded street past businesses as they evacuate their homes after the area was inundated with flooding from Hurricane Harvey.

$1B impact on retail already, analysts estimate

Hundreds of food stores remained closed across Texas Monday as the area dealt with continued flooding and heavy rains from Hurricane Harvey โ€” a storm expected to have an historic economic impact.

The weather intelligence firm Planalytics said Monday it already estimates Harvey has cost Texas retailers more than $1 billion in lost sales. It said Harvey would likely be among the top five or 10 most expensive disasters in history for retailers and rival the economic devastation brought by the last Category 4 hurricane to make U.S. landfall, Hurricane Charley, in 2004, which had a $15 billion impact.

The economic impact of the storm will come into better focus over time, Planalytics noted. The company said initial assessments indicate restaurants have taken the biggest hit of retail businesses as they do not make up for lost traffic.

As consumers focused on โ€œneed-basedโ€ purchases look to supermarkets, with multiple closures some in storm-affected areas had lines to get in, social media posts showed: The Heights Life @heightslife

 Waiting in line at 11th St Kroger They're letting in ~75 ppl at a time #Houston #houheights #hounews

 12:15 PM - Aug 28, 2017

Walmart Action โœ” @WalmartAction
Update: We've shipped 795 emergency truckloads ๐Ÿšš of supplies, mainly water to S. TX & 1700 truckloads ๐Ÿšš are due to arrive in the next week!

H-E-B posted its store closings on Facebook. Some stores have since reopened:

 


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