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TheStreet Open House

[video] Quick Take: Macy's CEO Breaks Down Black Friday

NEW YORK (TheStreet) -- Many stores opened their doors this year on Thanksgiving to get an edge on the competition. TheStreet's Laurie Kulikowski is with Terry Lundgren, CEO of Macy's (M), to discuss the kickoff of holiday shopping. 

Lundgren said 15,000 people were lined up at 8 p.m. on Thanksgiving Day, besting last year's line of 11,000 people at midnight. 

Clearly, the demand for a Thanksgiving open was there, he said. 

He added that coats and boots seemed to be doing well and that Black Friday would remain the most important day for Macy's in terms of sales. 

Consumers seem to be becoming more aware that there are six fewer shopping days between now and Christmas, Lundgren said, making this weekend's sales even more important. 

Macy's is the largest carrier of top brands, like Michael Kors (KORS) and Polo Ralph Lauren (RL)

But they also carry and sell more value-oriented brands too, he said. 

Regarding mobile shopping, Lundgren suggested that more shoppers are browsing online, but coming into the store to get a better feel for what they're buying. 

He concluded that Macy's seems to be taking market share from all of its competition right now, including department stores and speciality stores.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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