This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Black Friday Creeps Into Thursday

ANNE D'INNOCENZIO

NEW YORK (AP) â¿¿ The nation's shoppers put the turkey down to take advantage of an early start to the holiday shopping season.

Stores typically open in the wee hours of the morning on the day after Thanksgiving that's named Black Friday because that is when they traditionally turn a profit for the year. But Black Friday openings have crept earlier and earlier over the past few years. Now, stores from Target to Toys R Us open their doors as early as Thanksgiving evening.

Target Corp. opened its doors at 9 p.m. on the holiday, three hours earlier than last year. Sears, which didn't open on Thanksgiving last year, opened at 8 p.m. on Thursday through 10 p.m. on Black Friday. Toys R Us opened at 8 p.m., an hour earlier than last year. And scores of other stores such as Macy's Inc. opened at midnight on Black Friday.

"I ate my turkey dinner and came right here," said Rasheed Ali, a 23-year-old student in New York City who bought a 50-inch Westinghouse TV for $349 and a Singer sewing machine for $50. "Then I'm going home and eating more."

Indeed, retailers were betting that the earlier openings would draw shoppers who prefer to head to stores after their pumpkin pie rather than get up early the next morning. When Macy's flagship Herald Square store in New York opened its doors at midnight, for instance, about 11,000 shoppers showed up. Overall, about 17 percent of shoppers said earlier this month that they planned to take advantage of Thanksgiving hours, according to an International Council of Shopping Centers-Goldman Sachs survey of 1,000 consumers.

The earlier hours are an effort by stores to make shopping more convenient for Americans, who still face economic uncertainty. Many shoppers are worried about high unemployment and a package of tax increases and spending cuts known as the "fiscal cliff" that will take effect in January unless Congress passes a budget deal by then. At the same time, Americans have grown more comfortable shopping on websites such as Amazon.com, where they can get cheaper prices and buy from the comfort of their home or office cubicle.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs