$1 billion: Blizzard's cost to retailers

Retailers may have lost $1 billion of crucial post-Christmas sales because of the blizzard that struck over the holiday weekend, according to a report Wednesday.

ShopperTrak, which records sales and customer traffic at more than 70,000 stores and malls, estimates that shopper traffic on Dec. 26 was 11.2% below what it would have been if the blizzard hadn't hit.

"The 2010 blizzard throughout the Northeast halted nearly all retail visits and spending during a period that is fairly crucial for retailers," ShopperTrak founder Bill Martin, said in the report.

Specifically, shopping traffic in the Northeast fell 6.1% on Sunday.

Monday was particularly brutal. Many potential shoppers were snowbound or digging out from the storm.

Read Full Article from CNNMoney

- Posted: 2010-12-29 12:38:39

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