Walmart and other major chains will close their stores again on Thanksgiving. This is a continuation of practice many companies started in 2020 to combat the pandemic.
It’s gone—Walmart (WMT-US CEO John Furner stated Wednesday that they will be closed for Thanksgiving.
Target (TGT), last year, announced that its stores would be closing on Thanksgiving.
Target CEO Brian Cornell stated last year that “What began as a temporary measure driven by the pandemic was now our new standard.” “Thanksgiving hours won’t be returned to once the pandemic subsides.
As they did in 2020, and 2021, Best Buy (BBY), Kohl’s, and other stores will also close this Thanksgiving.
These chains were forced to close their doors for the holidays due to the pandemic. This was to reduce crowding and to spread the holiday sales season.
Black Friday was the most crucial day for holiday shopping. These days were used by stores to increase their seasonal sales. Online shopping has made it possible for retailers to sell online without being tied to specific days.
Extended shopping seasons mean that stores close on Thanksgiving, which has minimal impact on sales.
Retailers don’t want everyone to buy at once. Retailers have been able to launch sales and promotions earlier in the season and spread them throughout the season. This helps avoid a crush of customers, which can cause strain on staff and delivery networks.
Discounts are being offered by big chains again this year.
Retailers and labor advocates have had tensions over remaining open on Thanksgiving, particularly since many retailers opened on Thanksgiving to make it easier for Black Friday.
Labor groups argue that workers should be home with their families for Thanksgiving.
However, the public pressure to close shops on Thanksgiving has waned over the years. Instead, workers’ rights groups have shifted their focus to larger issues like the minimum wage, schedules, and benefits.
Massachusetts, Maine, and Rhode Island have all banned big-box stores from opening on Thanksgiving in their states. In 2016, a California legislator proposed legislation that would have required certain companies to pay double the wages of employees who worked on Thanksgiving. However, it was not passed.
For many years, Costco (COST), Home Depot(HD), Nordstrom [JWN], Publix (PUBLIX), Trader Joe’s (TCJ’s) and other stores have been closed on Thanksgiving.