Tuesday, November 19, 2013

It Seems Stores Will be Open Thanksgiving Because they Need Every Penny of Sales

That doesn't mean that I would actually be caught dead anywhere near any of these stores during the whole black weekend of Thanksgiving.

Many of the chains opening on Thanksgiving Day, by contrast, have endured negative EPS growth during the past year. And three of those have gone from a negative EPS number last year (indicating a loss) to an even worse EPS number this year. (In the table, those companies have a † in the EPS column.) 

Traditionalists, predictably, have been venting about retailers “ruining” Thanksgiving, while praising stores that honor the holiday by staying closed. P.C. Richard has taken advantage of the humbuggery by running ads showing a gloomy family trying to eat a turkey dinner on a blanket, in the cold, while waiting in line for a store to open. “We believe Thanksgiving should be spent at home,” the narrator intones.

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