Storm puts dent in Island businesses profits
Many businesses forced to close during storm
CBC News
Posted: Feb 11, 2013 9:35 PM AT
Last Updated: Feb 11, 2013 10:39 PM AT
The weekend's snow storm forced many businesses to close. (CBC)
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A storm that dumped about 30 centimetres of snow on the Island this weekend kept people indoors and forced many P.E.I. retailers to lose profits by keeping their doors shut.
Outriders Cookhouse shut down Saturday and closed early on Sunday. They served about twenty people this weekend but usually the restaurant will see an average of 400 people in a weekend.
"We definitely felt the pinch," said Kim Wood of the Outriders Cookhouse. "The numbers are down, the money didn't come rolling in like it usually does."
Many, like Melissa Barron, didn't leave the house during the wild weather.
"I just stayed inside and watched movies, so I kind of just had a boring little snow day," she said.
Jeff Crane, a Canadian Tire manager, said his location shut down all day Saturday.
"It's very tough to recover that, once it's lost, it's really tough to regain it. It will be, I think, a bit busier during the week because of people not being able to shop but it's tough to make that up," said Crane.
Alan Duncan, UPEI School of Business, said shutting down on a Saturday is hard for any business.
"Businesses' costs continue, even though they might be closed so what they lose is revenue. One Saturday night could be one to two per cent of their total year's revenue. They're not going to make that up over the rest of the year," he said.
For some, business was brisk leading up to the storm with people stocking up on emergency supplies, but for many it wasn't enough to make up for the lost day.
"We will lose probably vegetables and produce, stuff like that, it definitely does put a little pinch on it — sitting back on all that inventory waiting to sell," said Wood.Businesses hope to make some of that lost money back from Islanders who are keen to get out and shop after being cooped up all weekend.
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