-
Target to open at midnight on Black Friday
Minneapolis -- Target Corp. said Friday that it will open its stores across the country at midnight on Thanksgiving for the first time in the retailer’s history.
Stores opened at 4 a.m. on Black Friday last year.
Target, which said its move was in response to customer demand, said its stores will stay open for 23 hours and close at 11 p.m. Friday, Nov. 25.
Last year, most Walmart stores opened by midnight on Thanksgiving.
-
Price leadership not so steady
Citigroup found that toy prices at both Walmart and Target fell by 4% and that the price gap between the two retailers on toys has narrowed since its first survey.
According to Ciitgroup, retail prices of a basket of “hot” toys for holiday 2011 are now 30 bps cheaper at Walmart than at Target, compared with 50 bps cheaper at Walmart in its previous survey. However, taking into account Target’s 5% rewards discount, the basket of toys became 470 bps more expensive at Walmart, compared with 450 bps more expensive in the previous survey.