Major US Retailers Announce Store Closures on Thanksgiving

People shop at the Macy's Herald Square flagship store in New York on Nov. 22, 2018. (David Dee Delgado/Getty Images)

Several major American retailers will keep their stores closed on Thanksgiving Day, with big names like Walmart, Best Buy, Costco, Kohl’s, and Walgreens already announcing closures.

Prior to 2020, large stores held in-house Black Friday sales. However, the COVID-19 pandemic changed this tradition, with sales promotions pushed online.

Walmart announced the closures in an Oct. 10 post on X, saying the company wants its store associates to “have the chance to spend it with their families and loved ones.”

Best Buy confirmed in a press release that their stores would not be open on Thanksgiving. Costco lists Thanksgiving as one of the seven days a year when its warehouse stores will be shut down. Kohl’s stores also announced the Thanksgiving closing.

Target said in 2021 that the practice of shutting down stores on Thanksgiving—adopted amid the pandemic—would be made permanent.

Walgreens said that most of its 9,000 retail stores would be closed for the day, except for a few hundred, 24-hour locations. Its competitor, CVS, will shut non-24-hour pharmacies early on Thanksgiving.

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According to an Axios report, the majority of America’s biggest retailers will be closed for Thanksgiving for the fourth consecutive year.

Other major retailers that will be closed include Apple, Banana Republic, Barnes & Noble, Gap, Home Depot, JCPenney, Lowe’s, Macy’s, Nordstrom, Petco, Sam’s Club, PetSmart, and TJ Maxx.

Grocery and general stores that will be open on Thanksgiving include Kroger, Ralphs, The Fresh Market, Whole Foods Market, Stop & Shop, Dollar General, Dollar Tree, and Sprouts Farmers Market. Convenience stores like 7-Eleven, Casey’s, Wawa, and Sheetz are expected to be open.

Data from Statista shows that the number of people who shop online during the holiday season has risen over the past years, with the COVID-19 pandemic providing a big boost to the trend.

In 2015, 42 percent of people shopped online while 58 percent shopped in-store. By 2022, this changed to 57 percent shopping online and 43 percent buying goods in stores.

Thanksgiving Sales

A survey from the National Retail Federation (NRF) estimates that 182 million Americans will shop in-store and online during the five-day period (Nov. 23 through Nov. 27) from Thanksgiving Day through Cyber Monday this year.

That’s 15.7 million more people than last year and is the highest level since 2017.

The top reason chosen by 61 percent of the survey respondents to shop during this period was that deals were “too good to pass up,” while for 28 percent, it was “tradition.”

“The Thanksgiving holiday weekend marks some of the busiest shopping days of the year, as consumers enjoy the tradition of shopping for the perfect gifts for friends and loved ones,” NRF President and CEO Matthew Shay said.

“Retailers have been preparing for months for this occasion. They are stocked and ready to help customers find the gifts and other items they want at great prices during the entire holiday season.”

Another NRF survey revealed that clothing was the top gift that Americans planned on giving. This was followed by gift cards, toys, books, video games, other media, and food/candy.

Online search was the most used method to find a gift, followed by recommendations from family and friends, stores, and wish lists.

Gift card spending is expected to hit $29.3 billion, with holiday shoppers buying three to four gift cards and spending $49.43 per card on average.

More Thanksgiving Travel

Motor club AAA expects 55.4 million American travelers to head 50 miles or more from home during the holiday period. This is a 2.3 percent increase over 2022 and the third-highest forecast since 2000.

“For many Americans, Thanksgiving and travel go hand in hand, and this holiday, we expect more people on the roads, skies, and seas compared to 2022,” said Paula Twidale, senior vice president of AAA Travel, according to a Nov. 13 press release.

“Travel demand has been strong all year, and AAA’s Thanksgiving forecast reflects that continued desire to get away and spend time with loved ones.”

Travelers are projected to pay less for domestic trips and more for international vacations this year compared to 2022. The sole exception would be airfare, which is a bit more expensive for domestic flights this season and a bit lower for international flights, AAA stated.

The average price for a domestic hotel stay is down 12 percent from last year, while the cost of an international hotel stay has risen by 5 percent.

AAA expects 11 percent more people to travel by cruise, bus, and train over Thanksgiving this year. Travel through these modes of transportation had taken a hit during the pandemic and has recovered since then.

“The cruise industry, in particular, has made a remarkable comeback,” Ms. Twidale said. “Thanksgiving cruises are mostly sold out, with many travelers looking to spend the holiday at sea.”