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Holiday sales on ice
Big snow in the Northeast likely left retailers with more inventory than they'd like.
December 8, 2003: 8:25 AM EST
By Justin Lahart, CNN/Money Senior Writer

NEW YORK (CNN/Money) - Retailers complaining about how the weather's hurt their sales is a bit like boys crying wolf: You begin to doubt the tale.

But it looks like the wolf really came. The snowstorms that socked the Northeast Friday and Saturday kept shoppers out of the stores on what is usually one of the biggest shopping weekends of the year. There's no solid indication of exactly how bad things were, but a lousy take at the box office over the weekend suggests that sales weren't happy and bright.

Brimming with optimism that the economic recovery would make this year's holiday sales stellar, retailers are now forced to play catch up.

This shouldn't matter, right? After all, there are still plenty of shopping days between now and Christmas; we'll just pick up that electric nosehair trimmer for Dad next weekend.

But the word in the stores this holiday season (and it's a notion retailers have been pushing with shoppers) is that inventories are lighter than usual this time around. That means there won't be the same sort of last-ditch effort to clear the shelves right before and after Christmas that we've seen in the past. So no deep discounts: Get in there now or that gift you promised your loved ones isn't going to be there anymore.

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Bid and Ask
Written by: Justin Lahart

At least that was the way it was supposed to go. After the weekend, stores are holding a lot more inventory in the busy Northeast than they expected. They can force a cheerful grin, and talk about how the snow merely postponed sales, rather than canceled them, but they have to be worried about that stock. While folks are trimming their trees, the stores will likely be trimming prices by a bit more than they'd planned. And profits will be a little less than they might have hoped.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.