Stocks rally after Irma downgraded to Category 1 storm
Canadian companies’ global expansion strategies have left some of them to cope with the destructive force of Hurricane Irma. Here's what we know about some of their direct exposure to the now-Category-1 storm.
TD Bank is keeping all 150 of its Florida branches closed at least through today; it's also temporarily shuttering 10 locations in South Carolina. “We will reopen these stores after we conduct a post-hurricane assessment and determine it is safe for our employees and customers to return,” spokesman Matthew Doherty said in an email to BNN.
Bank of Nova Scotia told BNN 10 of its branches remain closed in areas "most affected" by Irma. “We will continue to monitor and provide updates to our employees and customers as they become available,” spokesperson Kate Simandl said by email.
Emera is another Canadian company dealing with Irma's wrath. As of 4:50 a.m. ET, its Tampa Electric unit's website showed only 59.3 per cent of customers had power. Plus, it's apparently also managing misinformation, with a banner at the top of the site reading, "Any rumors you may have heard that TECO is intentionally cutting off power to customers are false."
In Florida alone, Couche-Tard has 720 stores. BNN has asked the company for a statement on the status of those locations.
“Our teams at Circle K/Couche-Tard are working tirelessly to assess the damage from Hurricane Irma and assure our stores are at full capacity to serve our loyal customers,” spokesperson Lisa Koenig told BNN via email. “As the storm continues northward, we continue to monitor the situation in Florida and nearby states.”