Planalytics: Snowstorm Cost Retailers $2 Billion in Lost Sales
Some of the sales lost this weekend to the monster blizzard will be recovered as people shop online or make a last minute trip to the mall but some sales are lost for good. Reuters reports that retail research firm Planalytics estimates the the snowstorm in the Mid-Atlantic and Northeast states cost U.S. retailers around $2 billion worth of sales that they will not be able to recover.
The ability to shop online and the four days left before Christmas should allow shoppers to catch up on their gift buying, but that reduces the chances for impulse purchases.
"I'd look at it as an investor and say the storms all over the country are probably going to dampen the expectations for any kind of positive surprise that might have come out of this holiday season," said Fred Dickson, director of retail research at D.A. Davidson & Co.
Tracking firm Planalytics estimated that the snowstorm cost U.S. retailers about $2 billion of sales they will not be able to recover.
Reuters reports that the National Retail Federation (NRF) isn't altering its forecast because of the monster snowstorm. The NRF will stick with its forecast of sales down 1% from 2008.
Some of the sales lost this weekend to the monster blizzard will be recovered as people shop online or make a last minute trip to the mall but some sales are lost for good. Reuters 
