Bad weather will cost the restaurant industry $372 million in lost sales this week, even with lighter than expected snowfalls in heavily populated areas of the Northeast, according to a report.
The drop-off is the result of restaurants closing and consumers staying warm and dry at home instead of venturing out to eat, says Planalytics, a research and consulting firm that advises companies on how to manage the impact of weather.
The assessment is based on the disruption of normal spending and business patterns yesterday and today. The scene was set when many business and institutions announced on Monday that they would close during a forecast blizzard in the Northeast, a nor’easter along the Atlantic Seaboard, and snow in the Midwest.
Planalytics forecast that temperatures will likely remain 10 to 15 degrees below seasonal norms, literally putting a chill in activity.