While some stores will kick off Black Friday on Thanksgiving Day, Target has vowed to keep stores closed on the holiday.
Target also stayed closed on Thanksgiving last yearto limit crowds during the pandemic.Target also joined other retailers in giving its employees a day off around the holiday for their hard work as essential workers during the pandemic.
Now, the holiday closure will be permanent, the Associated Press reports.”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, obtained by the AP.
Despite the Turkey Day closure last year, sales for Target still rose 8.2% between November and December compared with the previous year, according to The National Retail Federation, the nation’s largest retail trade group.The federation predicts 2021 could break that record, with estimated growth between 8.5% and 10.5%.
At the time, Target’s Cornell suggested the closure of restaurants and movie theaters during the pandemic allowed people to spend money elsewhere – like on shopping.
The store recently reported its third-quarter earnings per share were up 51.6% from 2020.”The consistently strong growth we’re seeing in our business, quarter after quarter, is a testament to the passion and commitment our team brings to serving our guests, and the trust we’ve built with them as a result,” Cornell said in a statement.
Cornell credited same-day digital fulfillment as well as store sales for the growth.
While some Black Friday sales have started prematurely in recent years, several stores and shopping centers stay closed to honor the holiday.Costco and Nordstrom have always been closed on Thanksgiving Day, while places like the Mall of America in Minnesota recently followed suit, according to the AP.
Target has stayed open on Thanksgiving for a decade.
However, the day is historically not a big sales day overall – although it is big for online shopping, the AP reports.
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