This legendary event again is discussed in the current issue of Back Issue magazine, which features a lengthy interview with former DC president Jennette Kahn. Great stuff. She again mentions how the blizzards of late '77/early '78 affected DC's sales and led to the cancellation of numerous titles in late '78. I'd never even heard of this connection until a couple of years ago.
But if you look at how the dates and the issues line up, it would have been the issues just before the DC Explosion - when DC raised its prices to 50 cents, added backups to most titles and launched several new titles as well - that would have been affected. Those were the ones on sales in Dec 77 and Jan-Feb 78. The 50-cent books didn't hit the market until a few months later.
So what happened? When the accountants at Warner sat down in late '78, did they realize "Hey, a whole lot of our comics aren't selling well - and this whole 50-cent thing didn't work out either"? Because the obvious step in addition to canceling several titles was reducing prices to 40 cents.
Was it the blizzard or the high prices? Did DC fall - or was it pushed?