Retailers lost around $1 billion in holiday sales because of the blizzard, ShopperTrak tells Reuters.Shopper traffic was off 11.2 per cent on Sunday and 13.9 per cent on Monday from expectations. Analysts put the damage to December sales growth between 0.25% and 0.5% — a painful loss for a holiday billed as the comeback of the U.S. consumer.
Even with the blizzard, however, winter sales are on track to be up 4 per cent from last year.
Other damage from the snowstorm includes at least $20 million in clean-up costs for New York City. No word yet as to how much airlines and airports lost when cancelling thousands of flights.
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