Walmart, Ikea, and Home Depot are among the major companies that will be hit by the port strike; A prolonged strike could threaten supplies for major companies in the retail, automotive, and manufacturing industries

10/2/2024

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Quartz

• Subcategory: Retail: Shopping

• Tag: Business: Insights | Operations

• Additional Filters-Subcategory: Retail: Big Box, Retail: Community Center, Retail: Free Standing, Retail: Grocery, Retail: Grocery Anchored, Retail: Neighborhood Center, Retail: Power Center, Retail: Shopping Center

• Company: Walmart (NYSE: WMT), Home Depot (NYSE: HD)

A massive dockworkers strike could impact cargo movement of leading importers operating on the East Coast and Gulf ports, including Walmart (WMT-0.82%) and General Motors (GM+0.04%), according to trade data aggregator Import Genius.

If no agreement is reached, several terminals at these ports could cease operations, affecting products shipped in containers and threatening the global supply chain. This could eventually increase the prices of commodities across almost all industries — from retail and automotive to manufacturing.