Added by Monique Robinson on November 23, 2010
Some stores have announced to be open this Thursday for Thanksgiving, as they are trying to get ahead with the first purchases for this holiday season.
Stores that will be open on November 26 are Wal-Mart and Kmart discount stores, Sears department stores, 850 Old Navy stores, and some Gap and Banana Republic stores owned by Gap Inc.
Retailers are expecting to experience the best shopping season since the economy crisis began, in 2007.
However, Thursday won’t be the best shopping day, as consumers are expected to hit the stores on Black Friday. The National Retail Federation announced that it estimated a number of 138 million shoppers that would be out looking for best deals and bargain prices this Black Friday.
Many retailers have high hopes about the National Retail Federation’s numbers to be correct since a consistent part of the profit they make is based on holiday sales.
Wall Street Strategies analyst Brian Sozzy stated that stores don’t necessarily rely on Thanksgiving shopping, since the holiday season is merely beginning.
“It’s an add-on. If one of the retailers that is open on Thanksgiving has a bad day, I don’t think it is going to make or break the season,” stated Brian Sozzy.