Apple nixes more Thanksgiving Day openings
CEO Tim Cook reportedly cancels plans by marketing execs to expand holiday hours, saying that employees should be with their families.
By Tim Parker
There’s no doubt that Thanksgiving is losing its coveted spot as one of two holidays where the country grinds to a halt.
Each year, more stores try to get a jump on Black Friday sales by opening at some point on Thanksgiving Day -- always the fourth Thursday in November.
Apple (AAPL), not a company to miss out on a sale, was internally considering opening more of its stores on Thanksgiving but CEO Tim Cook (pictured) said no, canceling plans already made by the company’s marketing directors.
Last year, Apple stores in high volume markets opened on Thanksgiving Day. Those stores included the store on the Las Vegas Strip, Waikiki Beach in Hawaii, and the store on Fifth Avenue in New York City.
Apple’s marketing directors reportedly lobbied Cook to allow stores in San Francisco, an additional New York City location, Chicago, Los Angeles, Honolulu, Miami, San Diego and Portland to open this year.
IFOAppleStore reported that marketing directors might have had other motives for opening the additional stores. Opening early could mean higher sales that amount to big bonuses added to their $400,000 salaries. Apple, like all retail establishments, generates the largest percentage of its yearly retail revenue during the last two months of the year.
Tim Cook reportedly vetoed the plans so employees could spend time with their families -- a nice gesture for a company not known for its five-star treatment of employees. Reports of low wages, long work hours, and HR policies have come under fire this year. In July, Apple was slapped with a lawsuit by current and former employees over its bag check policies.
Before employees can leave the store, an employee has to check their bags. While an employee waited for somebody to perform the check, they were not compensated for the time they spend in the store. This, according to complainants, added up to hours of unpaid wages and shortened breaks.
Then there’s the constant scrutiny over the treatment of workers in foreign factories manufacturing Apple products. Apple, the largest company in the world by market cap, is under constant scrutiny by humanitarian watchdogs that are quick to go public with any alleged violation.
Sure, there could be a PR element to the whole, “I want employees to have time with their families” line but for now, let’s just take it as a gesture of goodwill towards its employees.
Disclosure: At the time of this writing Tim Parker was long Apple.
Read more from Benzinga
Nice to see someone having some sort of limits to the holiday shopping nonsense.
I still won't buy their overpriced, under performing buggy junk.
And I love my Windows Phone!
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.