CBL & Associates Closes 73 Shopping Centers for Thanksgiving
Last week, we reported on Mall of America's decision to shutter their stores in honor of Thanksgiving and not a week later, another major mall group just announced that they will be closing 73 of their shopping centers situated in the South and Midwest.
CBL & Associates stated yesterday morning that they plan to close the majority of their regional shopping centers for Thanksgiving this year and will instead reopen on Black Friday at 6am on November 25, 2016.
The only tenants with the option to open on Thanksgiving are nationwide departmental retailers like Macy's and JCPenney who has their own entrances including movie theaters, restaurants and a limited number of retailers with access to exterior mall entrances. Otherwise, all stores within these shopping center locations (listed below) will be closed for Thanksgiving.
CBL reported that their decision comes from the results of a holiday survey conducted across their mall locations. According to CNBC, the closure will allow approximately 1,500 mall operators and between 750 to 2,000 retail workers to enjoy Thanksgiving Day off.
“We want to bring back the excitement of Black Friday shopping as the true start of the holiday shopping season and allow our employees, retailers, and shoppers to spend the Thanksgiving holiday with their families."
- Stephen Lebovitz
Why the change?
In recent years, the Black Friday and Christmas creep has trickled down to traditional retailers and department stores. As the holiday season crept earlier into the year, retailers constantly up the stakes for promotions and this was met with a myriad of backlash from employees to consumers alike. Aside from negative consumer sentiments, the early sales also displace Black Friday as the major shopping holiday of the year. Fortune reported that despite the train of early deals, in-store sales has not seen a major lift for retailers and if anything, RetailNext notes that it fell 1.5% across the industry based on last year's data.
Retailers who were able to keep up with the digital shopping era by amassing sales with an online strategy were able to make up for the in-store loss. Even though in-store sales still make up for a majority of retail profits, those without a decent online sale strategy will fall short this holiday season.
What about the other major mall groups?
Two other mall developers, Simon Property Group and General Growth Properties have yet to make any announcement about Thanksgiving and Black Friday start times. There is a chance certain locations from both group will close on Thanksgiving if retailers plan to diversify their promotional strategy to keep both workers and shoppers happy. The flexibility of shopping early deals online for Thanksgiving and returning for in-store exclusive deals on Black Friday puts less pressure on shoppers and retail workers so it's not hard to see why tons of retailers are closing for Thanksgiving this year.
List of CBL Malls Closing for Thanksgiving 2016
|Cary Towne Center||Cary||NC|
|Chapel Hills Mall||Colorado Springs||CO|
|Coastal Grand||Myrtle Beach||SC|
|CoolSprings Galleria||Franklin (Nashville)||TN|
|East Towne Mall||Madison||WI|
|Harford Mall||Bel Air||MD|
|Hickory Point Mall||Forsyth||IL|
|Honey Creek Mall||Terre Haute||IN|
|Imperial Valley Mall||El Centro||CA|
|Laurel Park Place||Livonia||MI|
|Layton Hills Mall||Layton||UT|
|Mall del Norte||Laredo||TX|
|Mayfaire Town Center||Wilmington||NC|
|Mid Rivers Mall||St. Peters||MO|
|New River Valley Mall||Christiansburg||VA|
|Northgate Mall||Hixson (Chattanooga)||TN|
|Oak Park Mall||Overland Park||KS|
|Old Hickory Mall||Jackson||TN|
|Park Plaza Mall||Little Rock||AR|
|Pearland Town Center||Pearland||TX|
|Post Oak Mall||College Station||TX|
|River Ridge Mall||Lynchburg||VA|
|South County Center||St. Louis||MO|
|Southpark Mall||Colonial Heights||VA|
|St. Clair Square||Fairview Heights||IL|
|The Hanover Mall||Hanover||MA|
|Triangle Town Center||Raleigh||NC|
|Turtle Creek Mall||Hattiesburg||MS|
|Valley View Mall||Roanoke||VA|
|Volusia Mall||Daytona Beach||FL|
|West County Center||St. Louis||MO|
|West Park Mall||Cape Girardeau||MO|
|West Towne Mall||Madison||WI|
|Wiregrass Commons Mall||Dothan||AL|
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