Retailers are more primed this year to capture Black Friday dollars than in shopping seasons past, Dana Telsey, CEO of Telsey Advisory Group, told CNBC on Friday.
Telsey ticked off a list of areas where retailers are upping their game: merchandise presentations have improved this year, sales associates are better trained and companies are linking in-store and online operations.
"We've all heard them all investing in omnichannel, but now it's coming to life. Whether it's mobile, whether it's order online, pick up in store, the omnichannel and bricks and mortar coming together, we're seeing the fruits of it this year," Telsey told "Squawk Box."
As shoppers increasingly buy online and pick up their purchasers in store, retailers can increase sales by up to 15 percent if they have both an online store and a physical location, she said.
At the same time, omnichannel remains more expensive than selling at physical stores for retailers, and threatens to put pressure on profit margins.
Some companies are managing to protect themselves by buying inventory at a specific margin with an eye toward cutting prices later, said Telsey. Macy's, Limited Brands, Michael Kors, Nordstrom and Tiffany are doing well in this regard, she added.
Macy's is leveraging its scale in order to protect its margins, Macy's Chairman and CEO Terry Lundgren, told "Squawk Box."
"We're the largest customer for every major brand that we do business with—whether it be Ralph Lauren or Tommy Hilfiger or Calvin Klein. We work with them all year round for this weekend," he said.