TBC says hurricanes will impact third quarter results
Reduced sales due to store closings during recent Florida hurricanes and the cost of repairing those outlets will lower TBC Corp.´s third quarter earnings.
Only five out of TBC´s 160 retail outlets in the state suffered significant physical damage, according to TBC Corp. CEO and President Larry Day.
"However, sales were impacted considerably."
All of TBC´s Florida stores, which make up one-third of the company´s total company-operated store base, were affected by Hurricane Frances, "with Hurricane Charley having less of an impact," says Day.
TBC officials predict that the region´s latest tropical storm, Hurrican Ivan, will not have material impact on the outlets "as we have very few stores in markets in its anticipated track."