Blizzard Delays $1B in Retail Spending

Stores should see a bounce when the streets are cleared
By Newser Editors and Wire Services
Posted Dec 29, 2010 4:16 PM CST
In this Dec. 26 photo, shoppers make their way in the snow in Union Square in New York.   (Mary Altaffer)

(Newser) – The blizzard that swept through the Northeast delayed $1 billion in retail spending, according to research firm ShopperTrak. Despite that hit, it won't derail a holiday shopping season expected to be the best since 2007. About $10 billion in retail sales usually occurs Dec. 26-27, ShopperTrak says, and bad weather likely delayed about 10% of that.

The storm's effects weren't enough to change ShopperTrak's estimate for a 4% gain over last year in revenue for the Nov. 1-Dec. 31 holiday season. Retailers are expected to see much of the spending when shoppers return to stores as streets are cleared and transportation restored.

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