Blizzard Delays $1B in Retail Spending

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. (More retail stories.)