MCLEAN, Va. (WUSA) -- Shopping malls in the Washington-area were still crowded today on Wednesday with people looking for post-Christmas bargains and needing to exchange presents that just weren't right.
And today's weather is not welcome news for retailers hoping to cash in on post holiday bargains. Sales in the two months before Christmas were the weakest in four years.
MasterCard Advisors SpendingPulse reports sales of electronics, clothing, jewelry, and home goods increased by only seven- tenths of a percent compared to last year. That's the worst year to year performance since 2008 and well below the three percent analysts had expected.
Much of the shortfall is blamed on Superstorm Sandy, which caused sales declines along the East Coast in late October. Plus consumers are becoming increasingly nervous about the uncertainty surrounding the fiscal cliff.