Warm Winter Weather is a Big Boon to NJ Businesses

Warm weather this winter has been a big boon to local businesses across New Jersey as consumers get out and spend more.

With December and January being the warmest on record in six years, people have felt less like they need to hunker down and more like they can get out and shop, said Mitchell Koza, a professor at Rutgers Camden School of Business.

"People are getting a jump on spring cleaning, clothings, things to renovate the house, a whole range of things that people traditionally do in April and May."

Sales at major department stores and chains increased by 4.7 percent in February, according to the Thomson Reuters tally of 18 retailers. That was far bigger than the 3.4 percent increase analysts had expected. Consumer confidence was also the highest level in a year last month.

"While March may continue some of that momentum, sales in April may slow but February is when stores started selling spring merchandise so positive early signs for retailers is good news," said Koza.

Early earnings results from Lowe's and Home Depot in the last several days that showed consumers were shopping for springtime products.

"The weather has gotten people thinking about spring and summer and buying clothing for vacations, new paint for their home, etc," said Koza.

Still, high gas prices remain an unstable factor.

"I don't think they will be an issue, if people want to get out and shop they will and I don't think a few cents here or there is going to affect their spending habits this season."

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