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Cowen: Colder Temperatures Hit But Retail Traffic Doesn’t Pick Up

Though the U.S. got the colder weather most retailers were hoping for, a pickup in traffic did not come with it.

Temperatures for the third week of December were a little more than 10 degrees colder than last year and snowfall was up 145 percent, according to retail analysts at Cowen and Company. In the same week, store traffic fell 16.4% year over year, worse than the previous week’s 12.3% and well below Cowen’s initial estimates that it would be down between 5 percent and 7 percent.

Read more at Sourcing Journal.

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