Magical Trade
Monday, May 29, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Target will keep stores closed on Thanksgiving for good

by
November 22, 2021
in Trade News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

TSMC or Samsung? One chipmaker is the better play on A.I., geopolitics and earnings, analyst says

Spain’s conservative PP elbows Socialists out in regional elections

Shoppers fill a Target Store on a Black Friday in Chicago.

John Gress | Corbis Historical | Getty Images

Target will no longer open its stores on Thanksgiving Day, making permanent a shift to the unofficial start of the holiday season that was suspended during the pandemic.

Retailers last year were forced to turn what had become a weekend shopping blitz into an extended event with holiday sales beginning as early as October to limit the number of people in stores during the pandemic.

That forced shift during the holidays, however, turned out to be a good move.

U.S. holiday sales in November and December rose 8.2% in 2020 from the previous year, according to The National Retail Federation, the nation’s largest retail trade group. The trade group predicts that this year could shatter last year’s record, growing between 8.5% and 10.5%.

“What started as a temporary measure driven by the pandemic is now our new standard — one that recognizes our ability to deliver on our guests’ holiday wishes both within and well beyond store hours,” Target CEO Brian Cornell wrote in a note to employees.

The new standard at Target, on top very healthy sales last year, could push other retailers to follow in its path.

Target distribution and call centers will have some staff on Thanksgiving Day, Target said Monday, but stores will remain closed.

Target began opening its stores on Thanksgiving a decade ago, joining other retailers in kicking off Black Friday sales a day early and creating a holiday rush after the turkey feast. Many did so to compete with Amazon.com and other rising online threats.

But the shift seemed to merely eat up sales on Black Friday. And big retailers also suffered some blowback, accused of forcing thousands of people to work on a family holiday.

Some stores and malls like the Mall of America in Minnesota ended the practice and remained closed on Thanksgiving. Some, like Costco and Nordstrom, never opened their doors during the holiday, saying they wanted to respect the holiday.

Thanksgiving had historically not been a big sales day overall, not one of the top 10, because stores usually opened their doors around 5 p.m. However, it’s been a big online sales day. Last year, the holiday trailed only Cyber Monday and Black Friday in online sales, according to the Adobe Digital Economy Index.

ShareTweetPin

Related Posts

TSMC or Samsung? One chipmaker is the better play on A.I., geopolitics and earnings, analyst says

by
May 29, 2023
0

The Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics have emerged as two key players in the increasingly competitive landscape...

Spain’s conservative PP elbows Socialists out in regional elections

by
May 29, 2023
0

The president of the People's Party of Mallorca and candidate to the Consell, Lloren? Galmes, during the monitoring of the...

Iran exchanges heavy gunfire with Taliban on Afghan border, escalating tensions over water rights

by
May 29, 2023
0

In this photo taken on February 18, 2022 a Taliban flag (L) and an Iranian flag wave at the zero...

‘It’s not a bubble yet’: Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.

by
May 29, 2023
0

Wharton professor and renowned economist Jeremy Siegel is bullish on a Big Tech boom fueled by artificial intelligence despite concerns...

Traders turn optimistic on debt ceiling deal — and one strategist says it’s a ‘market opportunity’

by
May 29, 2023
0

WASHINGTON, DC - MAY 26: U.S. Speaker of the House Rep. Kevin McCarthy (R-CA) speaks to members of the media...

Next Post

Housing Inventory Nov 22nd Update: Inventory Down 2.3% Week-over-week

Seven High Frequency Indicators for the Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net