Holiday shoppers hit stores on Black Friday in search of deals, but it was shaping up to be an all-channel event for retailers.
Hudson's Bay CEO Gerald Storch, who oversees such names as Lord & Taylor and Saks Fifth Avenue, told CNBC on Friday that stores were packed, but said those sales are only part of the story.
"It is more of an all-channel Black Friday, where what we've seen is a huge growth in internet sales on these days where Thanksgiving Day and Black Friday are starting to rival Cyber Monday for sales online," he said in an interview with "Squawk Box."
In fact, online spending is up this Thanksgiving. Shoppers spent about $1.15 billion as of Thanksgiving evening, a rise of almost 14 percent from a year ago, according to Adobe Digital Index. It said the day was on track to hit or come close to $2 billion.
And Amazon reported customers are shopping at record levels on Black Friday and is already on pace to surpass the day last year in terms of items ordered.
The growth in online sales has led many retailers to open their doors on Thanksgiving instead of kicking off the holiday shopping season on Black Friday.