Few early starts for 'Black Friday' as these retailers are closing for the Thanksgiving holiday

Coronavirus leads consumers to spend on tangible items, not experiences: Retail analyst

The NPD Group chief retail analyst Marshal Cohen on how retailers are being impacted by the coronavirus, specifically missing out on the back-to-school shopping season, which used to be the second-biggest retail period of the year for many brands.

As retailers look ahead to the holidays, in a reversal of recent years, many have already decided to shut their doors on Thanksgiving Day to accommodate their employees working during the coronavirus pandemic or take a new approach to the traditional holiday shopping season.

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Below is a full list of who's closed for Turkey Day and how they are reinventing their Black Friday and holiday deals this shopping season:

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Simon Property Group

Simon Property Group announced on Monday that it will close down its retail properties for Thanksgiving Day to offer its employees a well-deserved break for their efforts during the coronavirus pandemic.

"In these challenging times, we made the decision that we will not open on Thanksgiving Day, instead allowing our associates to spend the holiday with their loved ones," Simon Property Group Chairman and CEO David Simon said in a press release Monday.

Ticker Security Last Change Change %
SPG SIMON PROPERTY GROUP INC. 67.80 +3.65 +5.69%

The company noted that its properties will remain open on Black Friday. No additional information regarding the Black Friday sale or other holiday deals has been announced.

Home Depot

In addition to following its longstanding tradition of remaining closed for Thanksgiving Day, Home Depot announced on September 9 that it would be reinventing its Black Friday sale, extending deals for two months to accommodate shoppers.

"Starting with reinventing Black Friday, we’re improving the shopping experience, with your safety and wellbeing as our priority," the company wrote on its website. "Say goodbye to one day of frenzied shopping and enjoy Black Friday savings all season long without the stress and crowds."

Ticker Security Last Change Change %
HD THE HOME DEPOT INC. 280.65 +4.32 +1.56%

Both in-store and online sales will begin in early November and last through December.

The company is offering free shipping on more than 1 million items, which it hopes will give customers more flexibility with in-store pickup or home delivery options.

Additionally, for the first time ever the company's mobile app will give users "exclusive access" to see the deals in November before they go live online.

Kohl’s

Kohl's CEO Michelle Gass said on the company's second quarter earnings call on August 18 that it would shut its doors on Thanksgiving Day, citing this year being "a holiday season like no other."

"COVID is changing all aspects of customer expectations, and we are adapting our plans in response. To start out with, we've made the decision to not be open on Thanksgiving Day, allowing more of our associates to be home with their families," Girard said.

She added that Kohl's is making adjustments to "drive and capture anticipated early holiday demand beginning in October across all of our channels" and will offer deals on its website to ensure customers can get ahead of their holiday shopping online.

Ticker Security Last Change Change %
KSS KOHL’S CORP. 23.37 +2.04 +9.56%

Girard noted that Kohl's will emphasize "Cozy and Comfort," its Home category as well as kids' toys. The company will also expand its "Curated by Kohl's" platform to 300 stores, featuring exciting and interesting brands like Paper Source, Candy Club UB and Corpsicle.

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Best Buy

Best Buy announced its Thanksgiving Day closure plans on July 28 in an effort to focus on highly anticipated demand for the upcoming holiday season. Recently, The  NPD Group in its "Future of Tech" report forecast that consumer technology sales will grow a record 18% in the fourth quarter of 2020 over the year-ago period. That could translate into a big holiday for Best Buy.

"We can all agree that, so far, 2020 has turned out differently than what we might have expected," the company wrote in a blog post. "And now, the holiday season at Best Buy, including Thanksgiving Day, is going to look different, too."

The company said it will be enhancing the way it fulfills orders, from offering more convenient pickup options at its stores to making sure BestBuy.com orders arrive at the right time. Best Buy will also offer "some of the hottest deals of the season earlier than ever, to make it even easier for our customers to check off their gift lists."

Ticker Security Last Change Change %
BBY BEST BUY 107.70 +1.14 +1.07%

While stores will be closed on Thanksgiving Day, customers can shop online at BestBuy.com and via the Best Buy app.

"Although this holiday season may certainly look different, we’re ready to once again be there for our customers how, when and where they need us, during the most exciting time of the year," the company added.

Target

Target announced its Thanksgiving Day closure on July 27 along with news that it would begin to roll out deals as early as October in order to prevent large crowds from gathering during the holiday rush.

"Let's face it: Historically, deal hunting and holiday shopping can mean crowded events, and this isn't a year for crowds," Target said. "That's why our biggest holiday deals will be available earlier than ever, so you can shop safely and conveniently without worrying about missing out on deals that usually come later in the season."

The company said the move will offer "flexibility" lto ensure shoppers who normally face a limited window of time are able to take advantage of all of the savings the retailer has to offer.

Ticker Security Last Change Change %
TGT TARGET CORP. 148.44 +0.79 +0.54%

Although its stores will be closed during Turkey Day, the retailer promised that its deals will be featured before and after Nov. 26.

Walmart

Walmart announced its plans to close on Thanksgiving Day on July 21 along with an investment of $428 million in bonuses for its employees working during the coronavirus pandemic

“We know this has been a trying year, and our associates have stepped up. We hope they will enjoy a special Thanksgiving Day at home with their loved ones,” said John Furner, the chief executive of Walmart U.S. “We are certainly thankful to our people for all of their efforts.”

Ticker Security Last Change Change %
WMT WALMART INC. 137.32 +0.62 +0.45%

The company noted that store hours for Black Friday will be released at a later date.

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