Snowstorm unlikely to hurt holiday sales: analysts

(Reuters) – The snowstorm that hit the Northeast and Midwest this past weekend is unlikely to hurt overall holiday sales, analysts say, even as the shorter shopping season makes every day crucial for retailers. “This past weekend, the Northeast was a mess with snow starting on Saturday and continuing into Sunday, perhaps encouraging shoppers to postpone shopping to the coming week, buy more online, or just wait for Super Saturday weekend,” Topeka Capital Markets analyst Dorothy Lakner wrote in a note. The massive storm, which affected about a third of all Americans, resulted in flight delays and cancellations at major airports in Chicago, Washington D.C., New York City and Newark, New Jersey and made roads and highways treacherous for driving. However, Craig Johnson, president of retail consulting and analytics firm Customer Growth Partners, told Reuters on Sunday that storms like this one that are predicted a few days ahead “don’t destroy demand … they displace it forward or backward.”

    

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