The massive post-Christmas snowstorm on the East Coast took a chunk out of retailers' pockets, according to ShopperTrak. On Dec. 26th -- the day the snow started -- foot traffic fell 6.1% below what would have been expected in the Northeast; on the 27th, it dropped 42.9%.
The Chicago-based industry tracking firm estimates that as a result, some $1 billion in spending was postponed. The calendar also hurt results. Total retail sales for Christmas week (which ended Dec. 25) fell 4.1%, while foot traffic sank 6.8%.
The calendar shift, which pushed Dec. 26 to a Sunday, was the main culprit in the decline, eliminating what is usually the third-busiest shopping day of the year from the weekly total.