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More small retailers will be open for business on Thanksgiving Day, whether they like it or not.
Larger department stores can call the shots on store hours, but smaller retailers have to play ball and take cues from anchor chains like JCPenney and Macy's. And stores that break mall hours could be subject to a hefty fine, along with other consequences.
It's imperative for retailers and restaurants to be open on Thanksgiving, Anjee Solanki, national director of retail services for Colliers, told the Wall Street Journal. “Every tenant must adhere to the hours for uniformity.”
A letter sent to merchants at the Sunvalley Shopping Center in Concord, CA, says merchants are required to open at 6pm on Thanksgiving Day, and have the option to remain open from midnight to 5am.
A spokeswoman for the mall's landlord, Taubman Centers, said that historically, Sunvalley shoppers come out on Thanksgiving, and they want to accommodate their customers.
Store managers say it's common for mall owners to threaten fines for staying closed on Thanksgiving, but they rarely act on them. But even if they avoid fines, small stores might not have as much leverage in lease negotiations when renewal time rolls around. [WSJ]
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