(Updated 4:40 p.m.)
Shares of Atlanta-based Home Depot and its North Carlina-based biggest competitor, Lowe’s, were on the move Wednesday as investors anticipated both home improvement retail giants would reap big sales from supplying the many homes and businesses heavily damaged by Hurricane Sandy in the Northeast.
Both companies were up more than 2 percent in trading on the New York Stock Exchange, which itself got back to business after two days of being idled by the ferocious storm.
“We’re pulling product from Atlanta, Florida, Texas, all across the U.S.” Aaron Flowe, president of Home Depot’s Northern Division, told WSB Radio. “We’ve got 1,500 trucks heading into the region.”
Flowe said the first 750 trucks were carrying generators, tarps, flashlights, batteries, plywood and similar supplies. Additional shipments will include chain saws, heaters and cleaning supplies, such as wet-dry vacs, trash bags and bleach.
Home Depot has about 400 stores