Northeast Snowstorm Delays Retail Sales

New York, NY, Dec. 30, 2010 -- ShopperTrak estimates that the recent snowstorm in the Northeast cost retailers about $1 billion in lost or postponed sales.

ShopperTrak founder Bill Martin said he thinks there will be some retail strength as residents dig out from the storm.

ShopperTrak's National Retail Sales Estimate for Christmas week sales at general merchandise, apparel, furniture and other stores showed a 4.1% drop versus the same period last year.

Martin attributed the dip to a "calendar shift" which placed Dec. 26 on a Sunday this year as opposed to a Saturday last year. As a result, sales on Dec. 26 could not be counted in the Christmas week tally, Martin said.

The day after Christmas is typically one of the top six busiest sales days of the year for merchants.