The Nations Biggest Chains Take Advantage Of Christmas Day Shopping

Last minute shoppers and diners enjoyed the luxury of some of the nation’s biggest retailers being open Christmas day.

It is estimated that fifty million Americans took advantage of these openings, giving the already inflated retail sector a boost. According to SpendingPulse, retail sales from November first through December 24th are up 3.5 percent year over year. The SPDR retail ETF XRT is up four and a half percent over this period, including a 0.7 percent boost this boxing day after consumers flocked to stores on Christmas day.

Drug Stores

The nation’s largest drug chains were open for business on the 25th, inducing CVS CVS, Rite Aid RAD, and Walgreens WAG. With the vast majority of groschers closed for the day, these retailers were able to take advantage of basic last minute needs. These include everything from snack baskets to milk. Most stores also carry a limited variety of gifts for last minute shoppers.

Dining

According to Nation’s Restaurant News, six percent of Americans are expected to purchase food from a restaurant on the 25th. In terms of fast food, many McDonalds MCD, Subway, and Jack in the Box JACK restaurants were open for the day. Other national favorites with locations up for business include Starbucks SBUX, Buffalo Wild Wings BWW, Domino’s Pizza DPZ, and Denny’s DENN.

Big Box Retailers

In 2012, December 24th was the single biggest shopping day of the year. Regardless, the vast majority of big box retailers kept the tradition of remaining closed on the 25th. As Christmas season shopping continues to rise (ie. 3.5 percent YoY growth), many analysts do not think it will be long before these stores are open for the day. Because many stores face negative backlash for operating on Thanksgiving, some speculate this is the cause for closure. However, once one store opens, several can be expected to follow suit.