Thanksgiving is two weeks away and retailers have started to line up their Black Friday Sales. Over the last decade, retailers have been in a race to open earlier. This year many big box stores will open on Thanksgiving.
Best Buy
Best Buy (BBY) will kick off their Black Friday sale on Thanksgiving night at 5 p.m. Most Best Buy stores will stay open until 1 a.m., then re-open at 8 a.m. on Friday. Some of the biggest deals at Best Buy include the Samsung Galaxy 5 for $1 on a two year contract. The iPad2 line will be $100 off. Best Buy will also be offering a 50 inch Panasonic LED 1080p TV for $199.99. Best Buy has beaten earnings expectations since April of last year. We currently have Best Buy at a Zacks Rank #1 (Strong Buy) stock.
Target
Target (TTG) will be opening its doors to shoppers at 6pm on Thanksgiving. Target is offering shoppers deep discounts on Samsung's flagship handset, the Galaxy S5. Target is offering the phone for $0.01 with a two year contract AT&T, Verizon, or Sprint. They will also be offering deeply discounted game consoles from Sony and Microsoft. Target has had a rough year. Credit card hacks have left consumers wary of shopping at the retailer. At present, Target is a Zacks Rank # 3 (hold) stock.
Kohl's
Kohl's (KSS) will be opening their doors at 6pm on Thanksgiving with sales running through 1pm the next day. Like other retailers, Kohl's will be offering video game consoles bundles from Sony and Microsoft. Kohl's will also be offering an exclusive Nintendo 3DS XL bundle for $149.99, as well as deep discounts on toys and home goods. All toys will be on sale for 50% off. As an incentive to bring people in, Kohl's will be offering shoppers $15 in gift cards for every $50 spent. The company has lowered its earnings outlook during its investor conference call held in Oct 2014. At present, Kohl's is a Zacks Rank # 4 (sell) stock.
WalMart
Walmart (WMT) announced that this year their Black Friday sales will be designated as events over a five day span starting on Thanksgiving. These events are called "One Hour Guarantees" in which customers in designated lines will have a chance to purchase specific items during a one hour sale. The first "one hour" kicks off on Thanksgiving night from 6 p.m. to 7 p.m., then a second event kicks off at 8 p.m., then resumes Friday morning at 6 a.m. Walmart reported in-line earnings recently, and beat revenue estimates. Currently Walmart is a Zacks Rank #3 (Hold) stock.
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