WWD checked in with retailers to see how they fared after the blizzard, and, of course, the Ugg store was booming on Monday morning, with a line of shoppers waiting outside. WWD writes:
Analysts said retailers would lose 0.5 percent to 1.5 percent of their holiday sales as a consequence of the storm, though most of it should be recouped later this week and into January. They'll be helped by online retailing, which would likely pick up more than originally expected with consumers stranded at home. In addition, tourists trapped in New York and other major cities due to cancelled or delayed flights showed up in the stores Monday, particularly the big anchor destinations such as Saks, Barneys New York and Macy's Herald Square.
Analyst Amy Noblin added, "The week after Christmas can account up to 15 percent of holiday sales." And analyst Marshal Cohen noted that the day after Christmas is one of the top six days of the year for retail:
Cohen said the storm swept through roughly 25 percent of the nation's retailing, moving from the Midwest to the East Coast, and altered the shopping mood. "The urgency issue isn't quite there anymore," he said. "Holiday was on steroids and all of sudden lost some of that luster. However, the storm doesn't really affect the overall scheme. It affects the image of what the holiday brought, and we could go from being a very good December to an OK December."
What do you think?