Whereas some shops will kick off Black Friday on Thanksgiving Day, Target has vowed to maintain shops closed on the vacation.
Target additionally stayed closed on Thanksgiving final yearto restrict crowds in the course of the pandemic. Target additionally joined different retailers in giving its staff a day without work across the vacation for his or her onerous work as important staff in the course of the pandemic.
Now, the vacation closure will be everlasting, the Associated Press reports. “What started as a temporary measure driven by the pandemic is now our new standard — one that recognizes our ability to deliver on our guests’ holiday wishes both within and well beyond store hours,” Target CEO Brian Cornell wrote in a observe to staff, obtained by the AP.
Regardless of the Turkey Day closure final 12 months, gross sales for Target nonetheless rose 8.2% between November and December in contrast with the earlier 12 months, in keeping with The Nationwide Retail Federation, the nation’s largest retail commerce group. The federation predicts 2021 might break that file, with estimated development between 8.5% and 10.5%.
On the time, Target’s Cornell suggested the closure of eating places and film theaters in the course of the pandemic allowed folks to spend cash elsewhere – like on purchasing.
The shop just lately reported its third-quarter earnings per share had been up 51.6% from 2020. “The consistently strong growth we’re seeing in our business, quarter after quarter, is a testament to the passion and commitment our team brings to serving our guests, and the trust we’ve built with them as a result,” Cornell stated in a statement.
Cornell credited same-day digital success in addition to retailer gross sales for the expansion.
Whereas some Black Friday gross sales have began prematurely in recent times, a number of shops and purchasing facilities stay closed to honor the vacation. Costco and Nordstrom have all the time been closed on Thanksgiving Day, whereas locations just like the Mall of America in Minnesota just lately adopted go well with, in keeping with the AP.
Target has stayed open on Thanksgiving for a decade.
Nevertheless, the day is traditionally not an enormous gross sales day general – though it is massive for on-line purchasing, the AP stories.