Alexander Coolidge reports:
Department stores and specialty retailers are expanding a smorgasbord of shopping options for families full from Thanksgiving Day dinners.
Desperate to maximize sales in a shortened holiday season, more retailers are opening their doors on Thanksgiving rather than waiting for the traditional “Black Friday” kickoff for year-end shopping. For the first time in its 155 years, Cincinnati-based Macy’s will open its stores on the holiday. Others have expanded their Thanksgiving Day hours as well.
The expanded holiday hours are not without critics. Some are upset at the erosion of a family holiday and have threatened to boycott stores.
But retailers are running scared amid a fickle, fragile economic recovery in which consumer confidence is at a two-year low.
“The consumer is not back yet,” said Andy Stout, managing director of investments at the Financial Network Group in Symmes Township. “The economy is good for the haves, but not so good for the have-nots who are not seeing an improvement in their lives.”
Fall retail results, meanwhile, have been mixed as well.
While sales were stronger for higher-end retailers like Nordstrom, Dillard’s and Macy’s, others haven’t been so lucky.
Both Kohl’s and Wal-Mart missed sales forecasts.
Now, most of them are hoping a Thanksgiving opening will give sales a boost as the year ends.
Several local malls technically will be closed, but common areas will be open for shoppers to visit individual retailers doing business.
Here’s a sampling of who’s open and when: