Businesses hit hard from storms
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 City, 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 likely take a noticeable hit to first- quarter revenue, analysts 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 the 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 the weekend storm.
Continental had scrubbed at least 900 flights Wednesday. United and Southwest canceled 600 apiece and American 300 by early afternoon.
The major airlines said it was too early to put a dollar figure on the storms’ impact. But one analyst said February’s foul weather would cost them heavily.
Yet despite the many flights that have been disrupted, the timing of the storm was fortunate. Airlines typically reduce the number of available flights anyway in February, a shoulder month between winter and spring holidays.