Target's Black Friday weeklong sale kicks off Sunday, Nov. 20. Photo: Robyn Beck/AFP via Getty Images
Target has released details about the annual Black Friday week sale, which the retailer is calling its largest ever.
Why it matters: Thursday's holiday shopping announcement comes a day after Target CEO Brian Cornell said during an earnings call that "consumers are showing increasing signs of stress and pulling back from discretionary purchases."
- Target's third-quarter profit dropped 52%, according to the company’s earnings report.
- Target started rolling out weekly Black Friday deals three weeks earlier than last year to lure in consumers stung by inflation who want to stretch their budgets.
What they're saying: "With high rates of inflation continuing to erode their purchasing power, many consumers this year have relied on borrowing or dipping into their savings to manage their weekly budgets," Cornell told analysts Wednesday. "But for many consumers, those options are starting to run out."
- "As a result, our guests are exhibiting increasing price sensitivity, becoming more focused on and responsive to promotions and more hesitant to purchase at full price," Cornell said.
Meanwhile, Colleen McCreary, a consumer financial advocate at Credit Karma, told Axios most people will rely on holiday sales and discounts this year.
- "Every dollar counts this holiday season as consumers grapple with inflated prices and the rising cost of living, which is making the holidays less affordable for many American households," McCreary said.
Target Black Friday deals 2022
Target's Black Friday week deals will run Sunday through Saturday, Nov. 26 online and in stores.
Details: New deals will also be added on Thanksgiving Day and run through that Saturday.
- There will be more than 1 million items on sale with discounts up to 50%, Target said in a news release Thursday.
- Top deals include a 65-inch Smart TV for $329.99 ($300 off the regular price), buy one, get one toy 50% on select brands, discounts on KitchenAid mixers, Dyson vacuums and clothes.
Target Black Friday ad released
The latest: Target posted its 62-page Black Friday week ad on its website Friday.
Between the lines: Expect to find more offers promoted on Target's website as part of the "deal of the day specials" through Dec. 24.
Target stores closed Thanksgiving 2022
For the third year, Target stores are closed for Thanksgiving, a move that began in 2020 with the pandemic.
- Target announced last year the Thanksgiving closures would be permanent.
Yes, but: Walmart, Best Buy, Macy's, Kohl's, JCPenney and other retailers also will keep stores closed Nov. 24.
- Dozens of retailers have traditionally been closed on the holiday like Costco, Home Depot, Lowe's, Marshalls, Sam's Club and Shoe Carnival.
Target Black Friday hours
Most Target stores will open at 7am local time Black Friday, Nov. 25, an hour earlier than the usual 8am opening.
- JCPenney and Kohl's have both said they will open at 5am Black Friday.
Target Cyber Monday sale
What we're watching: After the Black Friday week sale, Target will move to a two-day Cyber event.
- Target announced Thursday that the sale will be Nov. 27-28 and will feature "hundreds of thousands more deals exclusively on Target.com and the Target app."
Target holiday price match
Target started its holiday price match guarantee Oct. 6, which pledges price adjustments if prices drop.
How it works: Shoppers qualify for a price adjustment on any Target purchase if the Target prices go down "any time on or before Dec. 24."
Editor's note: This story has been updated to reflect that Target has posted its Black Friday ad.
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