Planalytics Sees Weather Taking Toll On Q1 Retail
Planalytics estimated the the cold early spring extracted $1.4 billion in sales from DIY stores and $425 million from clothing stores versus the prior year.
For the restaurant sector, chillier temperatures and inclement weather really hurt traffic levels, producing weather headwinds of $984 million compared to March 2017.
“The first quarter has been challenging for many, as Winter has been slow to loosen its grip across much of the country. The extended period of cooler temperatures and a series of late season snow events has delayed the shift to spring spending in many markets,” wrote Planalytics in a statement.
“Things haven’t improved much in April, especially in the eastern half of the country, where to date temperatures have remained below normal and 2017 levels.”