Macy's to Open Even Earlier on Thanksgiving

Macy's Inc. (NYSE:M) is opening its stores at 6 p.m. on Thanksgiving Day, two hours earlier than last year, to lure holiday shoppers.

The Cincinnati-based department store chain opened on Thanksgiving for the first time last year. In 2012, it opened at midnight after the holiday.

More retailers have been opening on Thanksgiving night to win over holiday shoppers. Target and Wal-Mart began offering holiday discounts on Thanksgiving night two years ago instead of waiting for the day after, which is known as Black Friday. The holiday season can account for up to 40 percent of a retailer's annual sales.

The company says workers can receive higher pay for working on Thanksgiving and take off Black Friday.

Macy's is the first major retailer to announce its Thanksgiving hours this year.