Target announced in January that it would close on Thanksgiving 2021 – and closing on Turkey Day will remain company policy going forward, CEO Brian Cornell says.
“What started as a temporary measure driven by the pandemic is now our new standard – one that recognizes our ability to deliver on our guests’ holiday wishes both within and well beyond store hours,” he wrote in a memo to Target staff. “You don’t have to wonder whether this is the last Thanksgiving you’ll spend with family and friends for a while, because Thanksgiving store hours are one thing we won’t ‘get back to’ when the pandemic finally subsides.”
Target is coming off an impressive 3Q earnings report, with the retailer notching a 13 percent jump in sales and a 47.5 percent surge in net income. Per CNBC, Cornell said Target is “protecting prices” and absorbing some of the higher costs it’s seeing as consumers face sticker shock with food, gas and more on the rise.
