Black Thursday? Thanks, but No Thanks: Macy’s CEO
Surging demand from bargain hunting consumers is forcing more retailers to consider opening their doors earlier — a phenomenon that department store giant Macy's as no intention of joining, CEO Terry Lundgren told CNBC Friday.
"I hate to say never about anything … but as long as I'm around, I've got a problem with [opening early], because I have committed to always being at the opening and I've done it all my entire career," Lundgren told CNBC's "Squawk Box."
He added: "I think midnight's plenty enough."
The mania surrounding Black Friday shopping is encroaching deeper into Thanksgiving, with some retailers choosing to open as early as Thursday evening. Brick-and-mortar retailers such as Target and Toys 'R Us opened almost immediately after consumers finished stuffing themselves with turkey. (Read More: Are Shoppers Busting Down the Doors on Black Friday?)
However, Lundgren made it clear he has no intention of jumping on the early open bandwagon.
With Macy's already responsible for the massive parade bearing its brand — and amid what Lundgren called record-breaking crowds at its midnight opening — he expressed deep reluctance to fire the store's starting pistols earlier.
Macy's does "something that other retailers don't do, it's called the Macy's Thanksgiving Day Parade so our day is filled with that," the CEO said.
"After the parade our employees are home having Thanksgiving dinner with their families, and getting here at midnight is plenty enough to ask of them," Lundgren added. "So I'm satisfied we have the right strategy."
The CEO also stated that fears of the U.S. "fiscal cliff" hadn't yet impacted Macy's brisk consumer sales, but warned the tide could turn early next year unless Washington addressed the issue.
—By CNBC.com's Javier E. David
Questions? Comments? Email us at consumernation@cnbc.com. Follow Christina Cheddar Berk on Twitter @ccheddarberk.
