Staff Photo by Dan Henry/ Hamilton Place Mall during the early morning hours on Thursday, January 21, 2016.CBL & Associates Properties Inc. plans to close 72 of its nationwide portfolio of malls on Thanksgiving, the Chattanooga-based company said Wednesday.
The company, which operates Hamilton Place and Northgate malls in Chattanooga, will close the units for Nov. 24, Thanksgiving day, and reopen them at 6 a.m. on Black Friday, Nov. 25.
CBL Chief Executive Stephen Lebovitz said the company wants "to bring back the excitement of Black Friday shopping as the true start of the holiday shopping season."
He said the move allows its employees, retailers and shoppers to spend the Thanksgiving holiday with their families.
In recent years, retailers have moved Black Friday sales up to the afternoon of Thanksgiving in hopes to get a jump on a five-week period that can generate 25 percent of annual sales. But retailers report the early start to the traditional post-Thanksgiving start of the Christmas shopping season had only mixed results.
"After evaluating feedback from our mall employees and retail partners, as well as input from our shoppers, we determined that this was the best decision for our properties," Lebovitz said.
Department stores, movie theaters, restaurants, and retailers with exterior mall entrances will have the option to open their stores for Thanksgiving, the company said.
However, access to mall common areas will be restricted until 6 a.m. Friday. Patrons should check their local center's website for more specific information.
Walnut Square Mall in Dalton, Ga., will remain open. The company declined to say why.
But the move impacts CBL's properties which range from Florida to California. CBL owns, holds interests in or manages 144 properties, including 89 regional malls and open-air centers.
CBL's move dovetails with an increasing number of retailers that are deciding to close on Thanksgiving again this year as they did prior to a few years ago.
Warehouse Row Property Manager Jennifer Mingola said the downtown retail center will close on the holiday as well.
While the center permits retailers to have their own schedule, none of the businesses plan to be open, she said.
"Everyone is closed," Mingola said, adding plans are for Warehouse Row to open early on Black Friday but not at midnight.
Mall of America, the giant Bloomington, Minn., shopping center, also has announced it will not open on Thanksgiving this year.
Stores that have said they'll close on the holiday include Dillard's, TJ Maxx, Costco, Marshalls, hhgregg, Hobby Lobby, Home Depot, Lowe's and others.
The changes come after several holiday seasons of retailers pushing back store openings to win market share at a time online sellers were doing a lot of business.
Brick-and-mortar retailers began to open their doors earlier on Black Friday and eventually on Thanksgiving.
Although 85 percent of retailers plan to open on Black Friday, just 49 percent plan to be open on Thanksgiving, said consultant PricewaterhouseCoopers.
About 9 percent of retailers said Thanksgiving plans were uncertain.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.