Business

Retailers took $4 billion hit from Sandy

NEW YORK — 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 figures released Tuesday by a retail data service.

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

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

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

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