Wal-Mart Stores, Inc. (NYSE:WMT) joined its rivals by announcing that it will launch Black Friday weekend sales on Thanksgiving evening. Wal-Mart announced Tuesday that it will organize two major sales events Thursday evening at 6 p.m. and 8 p.m. This year’s holiday shopping season has six fewer days. So, retailers have started early deals to lure customers with steep discounts and impressive deals.
Wal-Mart to offer lucrative deals on Thursday
Wal-Mart Stores, Inc. (NYSE:WMT) chief merchandising officer Duncan MacNaughton said the superchain will stock 65% more TVs and double the inventory of tablets from the previous year. The Arkansas-based retailer will guarantee 21 items to customers who stand in line for those products between 6 p.m. to 7 p.m., and 8 p.m. to 9 p.m. Last year, the company had offered only 3 guaranteed products. Anyway, some important deals will still take place on Friday, including the “manager’s specials” discount and the 8 a.m. sales event.
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Wal-Mart Stores, Inc. (NYSE:WMT) is offering some more lucrative deals this year. At 6 p.m. on Thanksgiving, it will offer 16GB iPad Mini for $299, plus customers will get a $100 Wal-Mart gift card. The Hewlett-Packard Pavilion TouchSmart laptops will be sold at $278, more than 53% discount on regular price. At the 8 a.m. event on Black Friday, customers can get an iPhone 5C for $45 and iPhone 5S for $189 on a two year contract, plus a $75 gift card.
Wal-Mart rivals not far behind
Wal-Mart Stores, Inc. (NYSE:WMT) kicked off online holiday deals on November 1. Though the early sales will offer good discounts, customers can get the best bargains only during the Black Friday weekend. Rivals are not far behind. Toys R Us has announced it will start Black Friday deals at 5 p.m. Thanksgiving day. Target Corporation (NYSE:TGT) will open its doors at 8 p.m., while Best Buy Co., Inc. (NYSE:BBY) will start offering Black Friday deals at 6 p.m. Thursday. Kmart Corp. announced it will open at 6 a.m. Thursday, and will be open for 41 hours straight. Kmart’s decision prompted people to express their outrage on social networking sites. Many called the company’s decision disgusting, shameless, greedy and heartless.
Wal-Mart Stores, Inc. (NYSE:WMT) said 1 million of its employees will work through the Thanksgiving holiday. However, the company will offer its workers a “nice Thanksgiving dinner at work” along with extra holiday pay. Those employees will also receive a 25% discount on their purchases.
Wal-Mart Stores, Inc. (NYSE:WMT) shares jumped 1.35% to $79.01 in pre-market trading.