Macy's (M) To Open On Thanksgiving Day To Tap Holiday Fever
Zacks Investment Research | Oct 15, 2017 10:26PM ET
Holiday season and retail are synonymous, and with the upcoming festive season, the spotlight is back on the sector. Most of the retailers kick start their holiday season from Thanksgiving Day as buying on this holiday has become an emerging trend. Macy's, Inc. (NYSE:M) has decided to keep stores open, a tradition which it has been following since 2013, per media reports.
This time the department store chain will open its doors at 5 p.m. and will remain open until 2 a.m. It will again reopen its stores on Black Friday. To take on online rivals, brick-and-mortar retailers do not want to miss out a single opportunity to attract shoppers who start early and seek attractive deals, and so keep their doors open on Thanksgiving. Additionally, the Zacks Rank #3 (Hold) company’s move is seen as part of its effort to aggressively capitalize on the holiday season, in order to provide cushion to its dwindling top and bottom line. You can see Zacks Investment Research
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