Best Buy joins Target, Walmart on Thanksgiving Day closing plans

Best Buy plans to close for Thanksgiving Day as the retailer focuses on meeting customer demand for the upcoming holiday shopping season.

The electronics and appliances store is following the lead of competitors Target and Walmart, who have also announced that they will observe the holiday.

"We can all agree that, so far, 2020 has turned out differently than what we might have expected," the company said in a blog post Tuesday. "And now, the holiday season at Best Buy, including Thanksgiving Day, is going to look different, too." 

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The company said it will be enhancing the way it fulfills orders, from offering more convenient pickup options at its stores to making sure BestBuy.com orders arrive at the right time. Best Buy will also offer "some of the hottest deals of the season earlier than ever, to make it even easier for our customers to check off their gift lists."

Meanwhile, Best Buy continues to take action to limit the spread of the coronavirus.

The company began offering curbside pickup as some stores were shuttered during the pandemic. As stores have started reopening at limited capacity, the retailer is enforcing social distancing measures and requiring all customers to wear masks while in store.  

While stores will be closed on Thanksgiving Day, customers can shop online at BestBuy.com and via the Best Buy app. 

"Although this holiday season may certainly look different, we’re ready to once again be there for our customers how, when and where they need us, during the most exciting time of the year," the company added.

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Despite the challenges created by the pandemic, Best Buy has seen increased demand during the second quarter with online sales surging 255 percent quarter-to-date through July 18 compared to the same period last year.

Since Best Buy began allowing customers to shop without an appointment at more than 800 stores across the United States starting June 15, the company's retail sales grew approximately 15 percent compared to the prior year, while online sales growth was approximately 185 percent compared to the prior year.

According to the company, the largest areas of sales growth were in the computing, appliance and tablet categories.

The retailer noted that second-quarter sales were up about 2.5 percent through July 18, compared to the same period a year ago, including sales growth of 2 percent in the United States and 8 percent internationally.

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The sales increase has led Best Buy to reward its employees by increasing the hourly starting wage for all U.S. employees to $15 and giving employees a 4 percent raise starting Aug. 2.

Ticker	Security	Last	Change	Change %
BBY	BEST BUY CO. INC.	88.14	-0.34	-0.38%

Best Buy first opened on Thanksgiving Day in 2013.

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