The Week Ahead: Retailers brace for a different Black Friday and college basketball begins
Taking a look at some key happenings this week.
Urban Outfitters, whose holdings include the namesake retail brand and Anthropologie, reports earnings. The Urban Outfitters brand just struck a deal with Disney for an apparel collection marking the 80th anniversary of “Fantasia.”
Hormel Foods posts fourth-quarter results, which should provide a good update on pandemic staples such as Skippy peanut butter, and the supply of Jennie-O turkeys leading up to Thanksgiving.
The Conference Board releases its U.S. Consumer Confidence Index, providing a key read on the mindset of shoppers heading into a key stretch of the holiday season.
The college basketball season begins and, like all sports in 2020, it won’t look the same as usual, with few fans in attendance and teams dealing with sporadic COVID outbreaks. March Madness is still on, but the NCAA is planning to stage the entire tourney in Indianapolis.
It’s Thanksgiving! The holiday will look a lot different this year as people limit travel and socializing on a day that’s often about oversized celebration, from the size of the turkey to the size of the crowd. Restaurants and retailers are offering more to-go options, including meals for smaller groups. Zoom is helping out those who can’t be together by lifting the 40-minute time limit on its free video chats all day through 6 a.m. EST Friday, ensuring there’s enough time to teach less tech-savvy family members how to see the whole crowd in gallery view and still have time to dine together.
Another big shift this year due to COVID-19: the Macy’s Thanksgiving Day Parade is still happening, but won't include marching through the streets of Manhattan.
The day after Thanksgiving, traditionally known as Black Friday, will also look different this year as many stores opted for earlier sales and online promotions to spread out the season and avoid in-store crowds during the pandemic. Many retail experts expect the change to have lasting appeal as Black Friday becomes a shopping holiday of the past.