Superstorm Sandy costs region's retailers nearly $4 billion in sales

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A man cleans up his damaged store in New York's South Street Seaport. Superstorm Sandy cost retailers in the Mid-Atlantic and Northeast nearly $4 billion in sales last week.   FILE -In this Tuesday, Oct. 30, 2012, file photo, a man cleans up his store damaged by Hurricane Sandy, in New York's South Street Seaport. Superstorm Sandy knocked off nearly $4 billion of retail sales last week in the hard-hit Mid-Atlantic and Northeast region, nearly 20 percent of the usual total, according to a figures released Tuesday by a retail data service.  (AP Photo/Richard Drew)  FILE/ASSOCIATED PRESS
FILE/ASSOCIATED PRESS
A man cleans up his damaged store in New York's South Street Seaport. Superstorm Sandy cost retailers in the Mid-Atlantic and Northeast nearly $4 billion in sales last week. FILE -In this Tuesday, Oct. 30, 2012, file photo, a man cleans up his store damaged by Hurricane Sandy, in New York's South Street Seaport. Superstorm Sandy knocked off nearly $4 billion of retail sales last week in the hard-hit Mid-Atlantic and Northeast region, nearly 20 percent of the usual total, according to a figures released Tuesday by a retail data service. (AP Photo/Richard Drew)

NEW YORK — Super­storm Sandy knocked off nearly $4 billion in retail sales last week in the hard-hit Mid-Atlantic and Northeast region, nearly 20 percent of the usual total, according to figures released Tuesday by a retail data service.

MasterCard Advisors’ SpendingPulse said that the region, which accounts for about 24 percent of retail sales nationwide, typically generates $18.7 billion in sales, excluding auto sales, for the week ended Saturday. But revenue came in at about $15 billion.

“This was a significant negative event for the region,” said Michael McNamara, vice president of research and analysis for SpendingPulse, which monitors all types of spending, including cash.

That dragged down the nationwide sales total for the Oct. 28-Nov. 3 period. Nationwide, retailers typically generate $78 billion in sales for that particular week, but McNamara, estimates the total was about $74 billion.

Sandy slammed into the Northeast on Oct. 29, causing stores to close because of power outages, flooding and other problems. Many shoppers stayed close to home because of the weather and gas shortages.


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