SHOPPING
Continued from page 5
cause of that.
In reality, analysts say, it’s all
about stealing share in a market
that isn’t growing that much.
For department stores, the
competition is fierce. Last year,
. J.C. Penney opened at 3 p.m. for
the first time, three hours earli
er than its rivals Kohl’s and Ma
cy’s. That may have hurt Macy’s,
which had a weak holiday sea
son and aims to reverse a sales
slump. This year, Macy’s decid
ed to open an hour earlier at 5
p.m. on Thanksgiving. Penney is
sticking to 3 p.m., while Kohl’s
will be opening again at 6 p.m.
Most Sears stores will be open
on Thanksgiving for the fourth
year in a row, starting at 6 p.m.
— the same as a year ago.
Best Buy, the nation’s larg
est consumer electronics chain,
suffered over Thanksgiving
weekend in 2012 because it
didn’t open until midnight, while
stores like Wal-Mart and Target
began their sales earlier in the
evening. Wal-Mart, Target and
Best Buy have not announced
their plans for this Thanksgiv
ing weekend. But all indications
are they’ll start the doorbuster
sales on the holiday.
For many big retailers, cov
ering expenses like paying em
ployees holiday pay is not that
costly, said Joel Bines, a man
aging director at retail consult
ing group AlixPartners. But for
small stores or those with spe
cialized merchandise, it may
make more sense to close.
AlixPartners also found for
that some retailers who did
open on Thanksgiving were
simply pulling Friday sales a
day earlier and their profit mar
gins took a hit. Bob Riesbeck,
president and CEO of hhgregg,
says business on Thanksgiving
actually declined over the previ
ous two years when it opened at
4 p.m.
CBL’s Lebovitz says when
he surveyed stores in the
See THANKSGIVING, 15
Keep It Local Holiday Shopping Guide 7
THE ASSOCIATED PRESS
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