On Thursday morning, there was a rumor that Apple Inc. (NASDAQ:AAPL) would be the next retailer to join the trend of remaining open on Thanksgiving. According to a report from ifoAppleStore, the tech giant would keep some of their retail stores open including Fifth Avenue store as well as stores in San Francisco, Miami, San Diego, among others.
This wouldn’t be the first time Apple Inc. (NASDAQ:AAPL) kept their stores open during the key shopping day. The company has opened their doors on that holiday in select location before.
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Tim Cook cancels plan to keep Apple stores open
A recent update on the matter squashed when Tim Cook cancelled the plans over market director objections. ifoAppleStore added, “On Wednesday morning over the objections of the Market Directors, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook cancelled the plan to keep several stores open on Thanksgiving. Cook’s specific objection was that it’s important for Apple retail employees to be with their families on the holiday. On the other hand, the Market Directors were reportedly motivated by large potential holiday-quarter bonuses based on performance targets, adding to their $400,000 salaries. The last calendar quarter at Apple retail is always the busiest and generates the most revenue, leading to the largest bonuses.”
Many retail stores plan to remain open or open early on Thanksgiving in efforts to kick of the Black Friday shopping weekend early. Target Corporation (NYSE:TGT) and Sears Holdings Corp (NASDAQ:SHLD) will open up at 8:00 a.m. on Thanksgiving morning. Kmart will open up much earlier at 6:00 a.m. Wal-Mart Stores, Inc. (NYSE:WMT) and Toys R Us will open later in the day, 6:00 p.m. and 5:00 p.m. respectively.
No effect on company sales
The fact Apple retail stores will be closed on Thanksgiving shouldn’t have an effect on company sales, especially since Apple products rarely ever go on sale. Most tech consumers have no problem paying full price for popular Apple products either. For those who are looking for good deals on Apple products, some stores like Target and Best Buy will offer a few notable deals.