Target Corp. (NYSE: TGT) has announced plans to open its stores for Black Friday sales at 9 p.m. on Thanksgiving, Nov. 22, in an effort to offer extended hours during the holiday season.
The company said:
We heard from our guests that they look forward to kicking off their holiday shopping with deal-hunting on Thanksgiving night. Opening at 9 p.m. gives Target’s Black Friday guests a more convenient way to create an after-dinner shopping event that the entire family can enjoy.
Additional “doorbuster” deals will begin at 4 a.m. on Friday, Nov. 23, and holders of the Target REDcard will have early access to select Black Friday sale items at Target.com.
Last week, competitor Wal-Mart Stores Inc. (NYSE: WMT) said that it would be kicking off its in-store specials at 8 p.m. on Thanksgiving Day. That is to be followed by a big electronics event at 10 p.m., and stores would open at 5 a.m. on Friday, Nov. 23.
Target was one of the retailers expected to follow Walmart’s lead in expanding holiday shopping hours. But weaker retailers, such as Best Buy Co. Inc. (NYSE: BBY) and the Sears and Kmart units of Sears Holdings Corp. (NASDAQ: SHLD) could see their margins damaged by such moves.