For the first time in its 155-year history, Macy's (NYSE:M) will open at 8 p.m. on Thanksgiving Day to get a head start on this year's Black Friday shopping bonanza. The retailer announced Monday that most of its 800 department stores will be doing business on Turkey Day with limited-time specials and doorbusters for eager holiday weekend shoppers.
Experts say that disappointing second quarter sales have pushed Macy's, and likely several others, to consider earlier openings for Black Friday this year.
For the past two years, select Macy's locations have opened at midnight on Black Friday to draw massive crowds. This year's earlier opening was "in response to interest from customers who prefer to start their shopping early", according to a Macy's statement.
"Black Friday is the biggest shopping event of the year, and brings with it a level of fun and excitement to our customers around the nation," Peter Sachse, Macy's chief stores officer, said in a company statement. "For Macy's, it's important to make this day enjoyable and convenient for everyone, as our customers search for great deals on favorite wish-list items. Shopping at Macy's on Black Friday means having the opportunity to purchase the most sought-after products at unbelievable savings."
Last year, Macy's rival Lord & Taylor opened some stores for business on Thanksgiving for the first time. Other retailers such as Sears (NASDAQ:SHLD), Target (NYSE:TGT), Walmart (NYSE:WMT) and Toys R Us have also opened their doors to Thanksgiving shoppers in years past.
And Macy's is not the only retailer trying to cash in on early Thanksgiving sales. Sears Canada said it would launch its first-ever Black Friday sale for the Canadian Thanksgiving holiday in stores and online, from Oct. 11 through Oct. 17. The move comes after the retailer conducted a study revealing that almost seven out of 10 respondents want Canadian retailers to offer Black Friday sales.
"Our customers already participate in our Black Friday sale in November so we wanted to give them one that, in a similar style to the U.S., would accompany our own Thanksgiving Holiday," Doug Campbell, president and CEO of Sears Canada, said in a statement, reports the Wall Street Journal.
-See this Macy's company statement
-See this Wall Street Journal article
-See this Huffington Post article
-See this Reuters article
-See this Businessweek article
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