These big retailers will be closed for Thanksgiving this year

It's not even peak bathing suit season yet and some major retailers are already saying their doors will be closed again on Thanksgiving Day.

Talk about making a statement.

The early closure announcements on Turkey Day 2021 are interesting from two perspectives. First, consumer spending has roared back this year amid the one-two punch of fresh stimulus checks from Uncle Sam and job creation from the economy's recovery off the pandemic lows. That has pushed the personal savings rate to a lofty 24.7%, suggesting shoppers will have a lot of financial firepower to spend at retail stores and online this holiday season.

Secondarily, the sharp economic rebound has put upward pressure on retail sector wages. In turn, that has retailers searching for any way to boost sales and profits —one simple way to do that beyond raising prices is to be open on Thanksgiving Day as was the case for years before the pandemic.

Nevertheless, household name retailers are putting their foot down this year (again) on Thanksgiving Day openings in a bid to build goodwill among hard-working store employees.

Here are three retailers that will be closed this Thanksgiving.

Walmart

The world's largest retailer said this month it is closing on Thanksgiving to "thank' employees for their efforts.

“Throughout the pandemic, our associates have been nothing short of heroic in how they have stepped up to serve our customers and their communities, Sam Walton said. ‘Our people make the difference,’ and that’s never been more true than it is right now,” said executive vice president and chief operating officer for Walmart U.S Dacona Smith. “Closing our stores on Thanksgiving Day is one way we’re saying ‘thank you’ to our teams for their dedication and hard work this year. We hope everyone will take the opportunity to be with their loved ones during what’s always a special time.”

Customers wait in line outside a Walmart Supercenter store, due to COVID-19 restrictions on store capacity, Wednesday, April 7, 2021, in Miami. Walmart is moving more of its workers full time, with the goal of having two-thirds of its U.S. store hourly jobs be full-time with more consistent work schedules by early next year. With this move, announced Wednesday, April 14, the nation’s largest private employer says it will have 740,000 of its 1.2 million U.S. Walmart hourly store workers be full-time by Jan. 31. (AP Photo/Wilfredo Lee) (ASSOCIATED PRESS)

Target

The discount retailer was the first in the sector to say its stores will be closed on Thanksgiving this year, making the announcement in a January blog post.

"We also closed our stores on Thanksgiving Day [2020] in order to minimize crowds and help our guests take the stress out of getting the best deals of the season. The response was so positive that we’ll carry it forward this year, keeping our Target stores closed all day long on Thanksgiving Day. This is just one example of how our evolving strategy is meeting the needs of our business and our guests," explained Target.

Best Buy

The electronics retailer said this month it will close its doors on Thanksgiving for the second straight year. No details were shared on the company's promotional plans or store hours for Black Friday weekend.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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