Macy's will open on Thanksgiving Day

Macy's (NYSE:M) is once again opening on Thanksgiving Day, in what is quick becoming the norm for large U.S. retailers.

The department store chain was among the first to open on the holiday in an effort to get a head start on Black Friday. It opened at 8 p.m. on Thanksgiving Day in 2013, and later moved the opening time to 6 p.m. in 2014.

Macy's won't advance the opening time this year, which will remain at 6 p.m., and the department store likely won't be open alone. While some retailers, such as REI, are opting out of the Black Friday and Thanksgiving shopping events, department stores and discount stores can ill afford to close and let the competition capture sales.

CEO Terry Lundgren said that last year more than 15,000 people visited its flagship New York City location on Thanksgiving Day, and Walmart hosted 22 million shoppers last Thanksgiving, according to NBC News. "Obviously the customers wanted us to open at six-o-clock based on the incredible traffic we're having in this store," Lundgren said, declaring the day a success.

Walmart, Target and other big-box national chains are expected to announce holiday hours soon.

For more:
-See this NBC News story

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