Hurricane Irma Projected to Have Devastating Impact on Retail, Economy
Hurricane Irma, the second strongest storm in the Atlantic on record, which at the time of writing is forecast to be heading towards the coasts of Florida, is expected to cause retailers and other residents major grief.
Business weather intelligence provider Planalytics assessed Irma's potential economic impact, reporting that lost sales could potentially have an impact of $1.45 billion.
A category 5 storm, Irma is expected to be even stronger than Harvey, the hurricane that made landfall in Texas in late August. While Harvey's impact was primarily driven by flooding, Irma's damages will also be driven by the high winds and storm surge. In addition, the population under threat by Irma in Florida is three times greater than the total number of those impacted by Harvey, threatening major population centers such as Miami, Fort Lauderdale, Orlando, and Tampa.