Black Friday was no match for Superstorm Sandy.
Major retailers from Target to Macy’s reported weak November sales as the strong start to the holiday shopping season – including a good showing on the day after Thanksgiving – wasn’t enough to fully offset the damage caused by Sandy earlier in the month.
The storm stunted enthusiasm among shoppers during the first couple of weeks of November just as stores were preparing for the busiest shopping period of the year, when retailers can make up to 40 percent of their annual revenue. “It really took away the punchbowl for retailers and put them behind the eight ball heading into the crucial weekend,” said Ken Perkins, president of RetailMetrics, a research firm.
The Associated Press
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.