With Hurricane Irma, one of the most powerful Atlantic hurricanes ever, battering the Caribbean and expected to hit Florida, home improvement retailers like Home Depot Inc. (HD - Get Report) and Lowe's Cos. Inc. (LOW - Get Report) can expect a boost to sales.

It's well-documented that "the home centers should see a benefit from these storms both in the near term as people both prepare and recover, and then over time as rebuilding starts," Mike Baker and Adam Sindler of Deutsche Bank Securities Inc. wrote on Wednesday, Sept. 6.

About 8% of Home Depot's stores are located in Florida, with another 9% in Texas, which is recovering from Hurricane Harvey. Lowe's trails slightly in hurricane geographic exposure, with 7% of its stores located in Florida and 8% in Texas.

"We don't break out sales between earnings; and frankly, our focus and concern is on helping the communities either prepare or recover and keeping our associates (employees) safe rather than sales," a Home Depot spokesman told TheStreet in an email. "We're juggling both at the moment from our Disaster Command Center, which we activated last week for Harvey. It was still running strong when Irma came along."

A Lowe's spokeswoman told TheStreet, "While I can't provide specific sales impact mid-quarter, Lowe's has shipped more than 1,100 truckloads of critically needed supplies to the Houston area. Our Emergency Command Center is fully activated and working with our expansive network of regional distribution centers and supply chain to ship supplies to communities impacted by these storms. While continuing to help with cleanup and rebuilding needs in Texas, Lowe's is also shipping emergency supplies into Florida in advance of Hurricane Irma. Lowe's has already shipped more than 1,600 truckloads of hurricane supplies to Florida."


Another beneficiary of the storm activity is Tractor Supply Co. (TSCO - Get Report) , which has similar exposure to Home Depot and Lowe's, Baker and Sindler wrote. The company could also see a benefit from generator sales and clean up but perhaps less so because of fewer repair type sales, the analysts explained.

Tractor Supply didn't respond to requests for comment.

Other retailers shouldn't expect a bump, however.

"Beyond the home centers and auto parts, we believe these hurricanes will have a net negative impact to sales particularly in the short term as stores are closed and consumers' focus turns away from shopping, particularly for discretionary items," the analysts wrote. "Over time, as people restock their homes and closets, there will likely be a bump in sales, but this will happen slowly and over a long period of time such that the impact is not likely to show up in any meaningful way in any period."

Indeed, Ross Stores Inc. (ROST - Get Report) has high hurricane exposure, with Baker and Sindler estimating that nearly 27% of its stores are located in Florida and Texas, which they anticipate could have a negative impact to the quarter.

Ross Stores did not respond to requests for comment.

Consumer products manufacturers like Newell Brands Inc. (NWL - Get Report) will also likely take a hit. The consumer goods giant, which owns home brands like Rubbermaid, expects the hurricane to harm its sales given the hit to supplies of resin.

"Since Hurricane Harvey's landfall on August 25, 2017, nearly all of Newell Brands' resin suppliers with facilities in Texas and Louisiana have declared force majeure, with many facilities shut down for more than a week and some still not operating," Newell said in a statement Wednesday, adding that it's working to find alternative, more expensive sources of resin.

The company expects resin prices to increase rather than decrease through 2018, and lowered its earnings per share guidance to a range of $2.95 to $3.05 from the prior range of $3.00 to $3.20, with net sales and core sales estimates unchanged.

Shares of Home Depot traded down 2% to $156.55 early Monday, with Lowe's down 2.3% to $76.77 and Tractor Supply up 0.58% to $60.66. Newell was down 0.9% to $43.65. 

Tracking Hurricane Irma, not a category 5 beast.

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Editors' pick: Originally published Sept. 6.