Department Store

New York City -- Macy’s announced that its namesake stores across the country will open at midnight on Nov. 25, the midnight of Thanksgiving night, to kick off the 2011 holiday shopping season. It is the first time that Macy’s has opened its doors chainwide at midnight. The company’s Bloomingdale’s unit will open its doors on Black Friday at 8 a.m.

Last year, Macy's opened eight stores at midnight. The rest of the stores opened at 4 a.m.

News spread quickly last week that Target stores would open at midnight on Black Friday, and that was the idea. The company earned a tremendous amount of media exposure by announcing its earliest ever opening time and joined the ranks of other retailers eager to accommodate the desires of millions of Americans by opening as early as possible on Black Friday.

New York City -- Iconix Brand Group said it has signed a definitive agreement to acquire The Sharper Image brand and intellectual property assets for $65.6 million in cash.

Iconix purchased Sharper Image from a joint venture led by Gordon Brothers Group, Hilco Consumer Capital, and Bluestar Alliance. Sharper Image products are sold nationwide at department and specialty stores and direct to consumer through the Sharper Image catalog and e-commerce website, sharperimage.com

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.
 

MINNEAPOLIS — Target is getting an early jump on Black Friday this year, announcing that it will open its stores at midnight on Nov. 25. 

“The holidays bring hectic schedules and tight budgets, so extending store hours and offering lots of additional ways to save makes Target a great choice for affordable, one-stop holiday shopping,” said Tina Schiel, EVP stores for Target.

Bloomfield Hills, Mich.-based Taubman Centers has unveiled a comprehensive holiday program for its Mall at Short Hills, in Short Hills, N.J.

From now through the end of the 2011 holiday season, the mall – which features Bloomingdale’s, Macy’s, Neiman Marcus, Nordstrom, Saks Fifth Avenue and 160 retailers – is showcasing the season with such offerings as an Ice Palace, a free, multi-sensory exhibit with falling snow, interactive elements, footage of arctic animals and landscapes, an Ice Princess and a visit to Santa Claus.

New Canaan, Conn. -- Value-focused but financially healthier American consumers will propel 2011 holiday sales to a record $554 billion, according to retail consultancy Customer Growth Partners’ 10th annual holiday forecast. The forecast, which is significantly more upbeat than other holiday surveys, predicts total retail sales growth of 6.5% for the November-December period over last year, the most rapid growth since 6.9% in 2004 — and over twice consensus forecasts called for lackluster growth of only 2.5%-3%.

By Craig Johnson, [email protected]