October has only just begun, but some folks are already thinking about Thanksgiving, especially all the deals they hope to get when they start their holiday shopping right after their meal. While each year more and more stores open on Thanksgiving to take a bite out of the Black Friday frenzy, there are still plenty that stay closed, and now a report reveals which stores are respecting the holiday and keeping their doors shut.
The website BlackFriday.com has just come out with their 2018 store closings list, which this year includes 60 stores planning to stay shut on November 22nd. “At this point in the year, we have the most confirmed closures we have ever had with 60 retailers,” Phillip Dengler, head of editorial and content marketing for the site shares.
The website began contacting stores last month to find out their plans, with big name chains like Costco, Ikea, Sam’s Club, Home Depot and Lowe's all confirming their closures. Many of the stores on the list have traditionally stayed closed for the holiday, although each year there are a few that change their plans, like GameStop, which in 2017 stayed open for the first time.
Other stores staying closed include Marshall’s, Nordstrom, Petco, Staples, and TJ Maxx. Click here for the complete list.
I'd love to think that these chains are closing out of the goodness of their hearts - that is, to give their employees a holiday break. But, being the free-market capitalist that I am, I know the mighty dollar rules the day. These stores would stay open if there were money to be made.
There was a time when opening on Thanksgiving drew customers to a particular store because other stores were closed. Then - shopping on Thanksgiving became a "cool" thing to do among the limited stores that opened. But when more and more stores opened, the customers spread out and I began seeing fewer and fewer customers at each store.
When I talked to employees at the store, they told me that they were getting paid extra holiday pay (otherwise, they'd use vacation time and take the day off). So extra pay + fewer customers meant it became financial less feasible for the chains to open. Big profits DO await on Black Friday.