The companies closed on Thanksgiving
Wholesale club Costco is among the largest businesses that will give its employees the day off on Thanksgiving. The warehouse club, based in Issaquah, Washington, reported U.S. sales of $74.7 billion last year, the third highest figure among all U.S. retail stores. Costco is a likely destination for many Americans preparing for the holidays. However, the company generates a substantial portion of its profits from membership fees, which would likely not meaningfully increase if it were to open its doors on Thanksgiving. Costco’s membership fees of $2.4 billion, which are generated with very little costs attached, greatly contributed to Costco’s operating profit of $3.2 billion in the 2014 fiscal year. Membership fees also increased 6% in fiscal 2014 compared with the year before.
2. Sam’s Club
Sam’s Club is a subsidiary of Wal-Mart Stores, the nation’s largest retailer. Sam’s Club operated 632 stores in the U.S. at the end of its most recent fiscal year, according to the company. These stores generated over $57 billion in revenues and nearly $2 billion in operating profits. While Sam’s Club will not be open on Thanksgiving, its larger cousin Walmart will be. Of course, being closed on Thanksgiving does not preclude Sam’s Club from launching a massive Black Friday sale. According to a recent release, “Sam’s Club is continuing its tradition of extending most Black Friday deals to the Saturday and Sunday after Thanksgiving while supplies last.”
3. BJ’s Wholesale Club
BJ’s is one of a number of popular warehouse clubs, directly competing against Sam’s Club and Costco. Like its competitors, BJ’s will not be open on Thanksgiving. In a recent press release, the company said, “Once again, BJ’s is bucking the retail trend of putting sales on Thanksgiving above family time and will continue its tradition of not opening on Thanksgiving Day.” Since it is privately held, BJ’s financials are not publicly available. According to the NRF and consulting group Kantar Retail, BJ’s had nearly $13 billion in sales in 2013.
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