InvestorsHub Logo
Followers 120
Posts 67138
Boards Moderated 0
Alias Born 01/07/2013

Re: None

Thursday, 11/23/2017 4:56:50 PM

Thursday, November 23, 2017 4:56:50 PM

Post# of 447360
Bucking the Trend: Hobby Lobby, Nordstrom, Bed Bath & Beyond Choose to Remain Closed on Thanksgiving

Target and Macy’s to open their doors on Thanksgiving Day in effort to compete with the changing retail landscape for Christmas sales.

Events like “Cyber Monday,” the Monday after Thanksgiving weekend when folks have returned to work and may be more inclined to spend time shopping online for what they couldn’t get in stores, as well as the phenomenon of “Christmas Creep,” the process of retailers putting out Christmas merchandise prior to the start of the traditional shopping season, have all put a dent in Black Friday turnout.

Add to that the fact that Americans can shop online 24 hours a day, seven days a week, without ever having to fight the crowds, and you have an environment in which it has become increasingly difficult for brick-and-mortar retailers to get their books out of the red and into the black (the derivation of the term “black Friday”) with vastly increased revenue during the last six weeks of the year.

Despite the competition, several retailers have chosen to remain closed on Thanksgiving Day this year.

Among the major retailers keeping their doors locked are Christian-owned arts and crafts store Hobby Lobby, upscale department store Nordstrom, Bed Bath & Beyond, and Barnes & Noble.


Hobby Lobby in particular is known for its traditional and family-centered values. The chain is one of the few major retailers that still willingly closes its doors every Sunday.

In a statement on its website, the company says:

“We have chosen to close on the day most widely recognized as a day of rest, in order to allow our employees and customers more time for worship and family. This has not been an easy decision for Hobby Lobby because we realize that this decision may cost us financially. Yet we also realize that there are things more important than profits. This is a matter of principle for our company owner and officers.”

The Western Journal spoke with Hobby Lobby’s communications coordinator, Bob Miller. When asked why the company has chosen to remain closed until Black Friday, despite pressures from competition, Miller stated:

“It has always been the practice of the Hobby Lobby to remain closed on Thanksgiving to allow employees to spend time with their families and to enjoy the day together. The owners of Hobby Lobby believe strongly in the importance of family.

“For that reason, we do not anticipate this policy ever changing,” he added.

The Seattle-based Nordstrom echoed similar sentiments. In a statement to The Western Journal, Nordstrom Senior Fashion PR Specialist Anya Pavlovic said:

“Our stores have always been closed on Thanksgiving so that our employees can spend time with family and friends. Customers who want to shop with us on Thanksgiving can visit Nordstrom.com, NordstromRack.com and HauteLook.com.”

Despite — or perhaps because of — the choice to remain closed on Thanksgiving, Nordstrom’s profits for fiscal year 2016 “exceeded expectations,” according to a report on the company’s website.

Likewise Hobby Lobby has continued to grow, stealing market share from competitor Michael’s according to a June 2017 report from Retail Dive.

https://www.westernjournalism.com/bucking-trend-hobby-lobby-nordstrom-bed-bath-beyond-choose-remain-closed-thanksgiving/?utm_source=Email&utm_medium=WJBreaking&utm_campaign=breaking&utm_content=2017-11-23

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.