Back-to-back snowstorms on the East Coast have brought a blizzard of sales of shovels, groceries and booze. For airlines and department stores, the region’s wintry weather has resulted in millions of dollars of lost revenue.
As businesses tallied up the impact of the second major snowstorm in less than a week, forecasters warned of a third wave of snow that could hit the Northeast on Monday.
On Wednesday, people planning to travel or shop were stopped in their tracks. From Washington to New York, roads, airports and businesses were closed.
Airlines have canceled thousands of flights in the past week. And retailers that are concentrated in the East — such as BJ’s Wholesale and Dick’s Sporting Goods — are apt to take a noticeable hit to first-quarter revenue, experts say.
Not all businesses cursed the bad weather. Ski resorts, liquor shops and hardware stores counted themselves lucky as out-of-school kids hit the slopes, and grown-ups bought shovels — and booze — as the snow piled up.
Up to 16 inches fell in parts of western Maryland. Reagan National Airport in Washington had more than 9 inches by midday, adding to the snowiest winter on record in D.C. That was on top of totals of up to 3 feet in some places from last weekend’s storm.
Continental Airlines had scrubbed at least 900 flights Wednesday.
United and Southwest canceled 600 apiece and American 300 by early afternoon.
Dan Hess, chief executive of research firm Merchant Forecast, said a snowstorm of this magnitude can knock down sales by 10 to 25 percent for the week. When it happens in the slow months of January and February, “You don’t make that business back,” Hess said.
Weather-research firm Planalytics said Bon- Ton Stores, Dick’s Sporting Goods and BJ’s Wholesale Club all have three-fourths or more of their stores in the path of the two storms.
