The holiday season is a boon for the bottom line of many retailers. At almost all stores, sales volumes are far higher than average in November and December. This year, the National Retail Federation projects holiday retail sales will hit $655.8 billion, a 3.6% increase over last year.
Black Friday sales provide a major boost for businesses during the holiday shopping season. Becoming a nationwide phenomenon in the mid-1980s, Black Friday is the biggest shopping day of the year. Retailers nationwide offer significant discounts on merchandise, and shoppers flock to take advantage. Due in part to intense competition, many retailers have been extending Black Friday sales hours in recent years, with many stores opening their doors earlier and staying open longer. 24/7 Wall St. reviewed the 11 largest retailers that will be open this Thanksgiving Day.
For each of the retailers on this list, the holiday season is a crucial time for meeting annual sales goals. For example, Target reported $21.6 billion in sales in the fourth quarter of 2015, which includes the holidays, compared to less than $18 billion in each of the previous three quarters. Similarly, Kohl’s reports that about 30% of its annual sales occur in November and December.
Due to the influx of customers in the holiday months, many retailers have announced plans to hire seasonal, temporary workers. According to estimates from staffing experts Challenger, Gray & Christmas, Inc., American companies plan to hire some 738,800 workers this holiday season. Many of these employees will likely be working on Thanksgiving Day. Many companies that plan to open stores on Thanksgiving Day, including Macy’s, Kohl’s, Target, and J.C. Penney, have already announced plans to hire tens of thousands of holiday workers.
While Black Friday sales have historically been available exclusively to brick-and-mortar store shoppers, many chains are now offering the same deals online. For example, 2016 is the first year that Kohl’s will offer online shoppers the same deals it offers in-store shoppers on Thanksgiving Day.
These changes reflect broader retail industry trends. According to the NRF, Macy’s online sales grew 15% in 2015 to roughly $6 billion. Still, sales at brick-and-mortar locations are the backbone of the retail industry. In-store sales account for some 90% of total sales.
Based on public statements of major retailers, 24/7 Wall St. identified the companies that will open stores on Thanksgiving Day. In order to be considered, a company had to be one of the top 100 retailers by U.S. sales, as measured by the National Retail Federation. Additionally, we only considered companies with a broad nationwide presence. We excluded restaurant chains such as McDonald’s (NYSE: MCD), grocery stores such as Publix, as well as convenience stores and specialized service providers. Of the companies that met these criteria, we reviewed the 11 largest by U.S. retail sales provided by the NRF. Company financial information came from the company itself or financial documents filed with the Securities and Exchange Commission. All sales figures listed are annual U.S. sales figures, as determined by the NRF. The exception is Old Navy’s sales figures, which came directly from the company’s annual financial filing with the SEC.
These are the 11 stores open on Thanksgiving.