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<article id="post-71238" class="post-71238 post type-post status-publish format-standard has-post-thumbnail hentry category-news-retail category-retail category-retail-monitor tag-caletha-crawford tag-hurricane-harvey tag-slider tag-sourcing-journal pmpro-has-access col-md-10">
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				<h1 class="entry-title">Hurricane Harvey to Result in $1 Billion in Lost Sales at&nbsp;Retail</h1>
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<div class="entry-meta">by Caletha Crawford</div>

			<time class="entry-date published" get_the_author() ); datetime="2017-08-28T17:22:27+00:00">Posted on August 28, 2017</time>
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<figure id="attachment_71239" style="width: 600px" class="wp-caption aligncenter"><a href="https://sourcingjournalonline.com/wp-content/uploads/2017/08/Screen-Shot-2017-08-28-at-4.47.42-PM.png"><img class="wp-image-71239" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" data-src="https://sourcingjournalonline.com/wp-content/uploads/2017/08/Screen-Shot-2017-08-28-at-4.47.42-PM.png" alt="Hurricane Harvey" width="600" height="399" /><noscript><img class="wp-image-71239" src="https://i1.wp.com/sourcingjournalonline.com/wp-content/uploads/2017/08/Screen-Shot-2017-08-28-at-4.47.42-PM.png?resize=600%2C399&#038;ssl=1" alt="Hurricane Harvey" width="600" height="399" data-recalc-dims="1" /></noscript></a><figcaption class="wp-caption-text">Photo credit: U.S. Department of Defense</figcaption></figure>
<p>The nation’s fourth largest city has been paralyzed for a fourth day following hurricane Harvey. The category 4 storm hit the Gulf Coast on Friday, resulting in 20 inches of rain in the first 24 hours.</p>
<p>Early estimates say Harvey will result in at least $15 billion in losses for the area, based on the effects of hurricane Charley in 2004, the last storm of that strength to make landfall in the U.S., according to business weather intelligence company Planalytics. But it’s too soon to know for sure as the area is still facing a deluge. Another two feet may fall before it&#8217;s all over.</p>
<p>The storm effects have been compounded by the city’s complex bayou, channel and creek system. The Army Corps of Engineers has begun releasing water from area reservoirs that are at capacity, spilling more water into the city creating additional flood conditions in some areas.</p>
<p>Businesses and retailers have been closed, with the only real activity in the city generated by rescue workers. In terms of the retail/consumer sector, the weather event could total $1 billion in lost sales—losses that will not be recouped. The effects of these losses will be felt over the coming months as consumers continue to focus on basic needs first.</p>
<p>The hardest hit retailers are likely to be those directly in the storm’s path, such as Dillard’s, Stage Stores, 99 Cent Only Stores and Hibbett Sports. The only retailers that could see an uptick would be home improvement chains like Home Depot and Lowe’s, though they too will lose sales while the city is unpassable.</p>
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<p>Federal Emergency Management Agency chief Brock Long has called the deadly storm a “landmark” disaster. Though just five deaths have been attributed to Harvey at this point, local officials have already indicated that many more fatalities are expected to be counted once the storm passes and the full scale of the damage has been assessed.</p>

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											<img width="210" height="158" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" data-src="https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=210%2C158&amp;ssl=1" class="entry-thumb wp-post-image" alt="NPD: Fashion Footwear Sales Driven by Convenience and&nbsp;Comfort" srcset="https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?w=800&amp;ssl=1 800w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=300%2C225&amp;ssl=1 300w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=768%2C576&amp;ssl=1 768w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=210%2C158&amp;ssl=1 210w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=176%2C133&amp;ssl=1 176w" sizes="(max-width: 210px) 100vw, 210px" /><noscript><img width="210" height="158" src="https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=210%2C158&amp;ssl=1" class="entry-thumb wp-post-image" alt="NPD: Fashion Footwear Sales Driven by Convenience and&nbsp;Comfort" srcset="https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?w=800&amp;ssl=1 800w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=300%2C225&amp;ssl=1 300w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=768%2C576&amp;ssl=1 768w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=210%2C158&amp;ssl=1 210w, https://i0.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/ugg.jpg?resize=176%2C133&amp;ssl=1 176w" sizes="(max-width: 210px) 100vw, 210px" /></noscript>																					</div><!-- .entry-thumb-wrapper -->
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									<h2 class="entry-title"><a href="https://sourcingjournalonline.com/npd-fashion-footwear-sales-convenience-comfort/" rel="bookmark">NPD: Fashion Footwear Sales Driven by Convenience and&nbsp;Comfort</a></h2>
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										<span>by Angela Velasquez&nbsp;on&nbsp;<a href="https://sourcingjournalonline.com/npd-fashion-footwear-sales-convenience-comfort/">Feb, 13 2018 </a> in 											<a  href="https://sourcingjournalonline.com/category/footwear-2/ ">
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									<p>At FN Platform Monday, Beth Goldstein, industry analyst and executive director of NPD Group, outlined the key drivers in footwear sales and how a wide net of consumer trends is influencing footwear buying habits.</p>
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									<h2 class="entry-title"><a href="https://sourcingjournalonline.com/trade-trump-sourcing/" rel="bookmark">What Trade in the Trump Era Means for&nbsp;Sourcing</a></h2>
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										<span>by Tara Donaldson&nbsp;on&nbsp;<a href="https://sourcingjournalonline.com/trade-trump-sourcing/">Feb, 13 2018 </a> in 											<a  href="https://sourcingjournalonline.com/category/trade/feature-trade/ ">
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									<p>For President Trump, who has taken to a sweeping revamp of U.S. trade policies, upending more than he’s upgraded so far, trade is a zero-sum game with winners and losers.</p>
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											<img width="210" height="158" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" data-src="https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?resize=210%2C158&amp;ssl=1" class="entry-thumb wp-post-image" alt="Colombia Celebrates its 25th Year of the Business Matchmaking&nbsp;Forum" srcset="https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?resize=210%2C158&amp;ssl=1 210w, https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?resize=176%2C133&amp;ssl=1 176w, https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?zoom=2&amp;resize=210%2C158&amp;ssl=1 420w, https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?zoom=3&amp;resize=210%2C158&amp;ssl=1 630w" sizes="(max-width: 210px) 100vw, 210px" /><noscript><img width="210" height="158" src="https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?resize=210%2C158&amp;ssl=1" class="entry-thumb wp-post-image" alt="Colombia Celebrates its 25th Year of the Business Matchmaking&nbsp;Forum" srcset="https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?resize=210%2C158&amp;ssl=1 210w, https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?resize=176%2C133&amp;ssl=1 176w, https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?zoom=2&amp;resize=210%2C158&amp;ssl=1 420w, https://i2.wp.com/sourcingjournalonline.com/wp-content/uploads/2018/02/FOTO-SOURCING-JOURNAL-MACRO-RUEDA-2.jpg?zoom=3&amp;resize=210%2C158&amp;ssl=1 630w" sizes="(max-width: 210px) 100vw, 210px" /></noscript>																					</div><!-- .entry-thumb-wrapper -->
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									<h2 class="entry-title"><a href="https://sourcingjournalonline.com/colombia-celebrates-25th-year-business-matchmaking-forum/" rel="bookmark">Colombia Celebrates its 25th Year of the Business Matchmaking&nbsp;Forum</a></h2>
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										<span>by SJ STAFF&nbsp;on&nbsp;<a href="https://sourcingjournalonline.com/colombia-celebrates-25th-year-business-matchmaking-forum/">Feb, 13 2018 </a> in 											<a  href="https://sourcingjournalonline.com/category/business/ ">
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									<p>Colombia's upcoming Business Matchmaking Forum is designed to make it easy for buyers interested in the country's duty-free status and quick turn capabilities to quickly discover compatible resources.</p>
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										<span>by Caletha Crawford&nbsp;on&nbsp;<a href="https://sourcingjournalonline.com/report-amazon-set-lay-off-hundreds/">Feb, 13 2018 </a> in 											<a  href="https://sourcingjournalonline.com/category/ecommerce-1/ ">
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									<p>Though the online player still has aggressive growth plans, including a second headquarters, which will employ 50,000 workers, Amazon is currently eliminating hundreds of jobs.</p>
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