Retail giant Walmart Inc WMT reportedly revealed the temporary closure of approximately a dozen stores due to power outages caused by a severe winter storm affecting the East Coast.
The storm, impacting over 90 million people, has triggered high wind and flooding advisories across the region.
Despite the closures, Walmart reported minimal business impact, with customers stocking up on essentials like snacks and baby food, reported Reuters.
As of Tuesday, the storm has resulted in power outages for approximately 811,000 homes and businesses across 12 states, the report noted.
A harsh freeze is expected to sweep the eastern half of the U.S. over the coming weekend.
According to the report, Home Depot Inc HD experienced a brief closure at one New Jersey store but has since reopened. Lowe’s Companies Inc LOW reported some stores operating on backup power but remaining open.
Chipotle Mexican Grill Inc CMG noted sporadic adjusted store hours and isolated closures, but without significant impact. Meanwhile, Target Corp TGT and Kroger Co KR have not seen any notable effect on their operational hours, as per the report.
Retailers like Lowe’s are taking proactive steps by dispatching critical response supplies, including tarps, generators, and sump pumps, to storm-impacted areas.
Price Action: WMT shares are trading lower by 0.03% at $161.24 in premarket on the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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