Socked by snow, stores haven't given up hope
Tuesday, December 14, 2010
As retailers joined customers in digging out of snowdrifts, many storekeepers and mall managers shrugged about getting socked by a storm so close to Christmas.
"I don't see this as being cataclysmic," said David Brennan, co-director of the Institute for Retail at the University of St. Thomas. "If this was next weekend, it would be a serious, serious blow to retailers."
Twin Cities shoppers plan to spend about $680 each this year on gifts, about 7 percent more than last, according to an annual survey by St. Thomas of local shoppers holiday spending. Brennan didn't see the weekend's record-breaking storm as putting a damper on that forecast.
Originally published: 12/14/2010, Star Tribune