Author: Jeremy Bowman | August 30, 2018
Time for summer savings
Labor Day not only marks the last blast of summer all around, for busy parents as well as retailers it marks the height of the back-to-school season -- the time of year when parents stock up on kids’ clothes, home goods, and other things they need before the school year begins and they get back to the grind.
When the time comes, retailers are always happy to greet them with open arms, offering doorbuster sales on big-ticket items and everyday products.
Click through to find 10 Labor Day sales you might want to take advantage of.
1. Home Depot
While the end of the summer may signal the close of the traditional peak home improvement season, There’s still time to spruce up your home before the winter freeze. Home Depot (NYSE: HD) is offering 40% off such items as Samsung washer/dryers, and a four-piece full LG kitchen suite for under $3000 including a refrigerator, range, and a Wi-Fi enabled dishwasher.
Shoppers can also get deals on items like floor-cleaning products and wine coolers.
2. Best Buy
In addition to appliances, electronics are also a popular source for Labor Day sales. Like Home Depot, Best Buy (NYSE: BBY) is offering steep savings on appliances, with up to 40% off on items like Whirlpool microwaves and GE washers.
While Best Buy may be best known for entertainment products like televisions, computers, and smartphones, the retailer appears to be focusing on appliances this holiday weekend as it takes advantage of the void left by the demise of Sears, which was once the biggest appliance retailer in the country. However, Best Buy does have a price-match guarantee, promising to equal any deals that competitors offer.
3. J.C. Penney
Labor Day is also a big time for savings at department stores, especially with the back-to-school season at its peak. J.C. Penney (NYSE: JCP) is offering a wide range of sales, including 25% off across the store with spending of $100 or more with the code 7BIGSALE.
For back-to-school shoppers, Penney is offering 50% off select styles, and as a further boon to parents, they can get $10 haircuts for kids through Sept. 15. The company is also offering up to 60% off on select furniture and mattresses, with a an additional 15% off with a coupon, or 66% off.
Coming off a dismal earnings report, Penney needs all the help it can get to revive its business.
As J.C. Penney’s sales show, furniture and home goods are popular with Labor Day shoppers so it’s not surprising to find online home goods specialist Wayfair (NYSE: W) on this list.
Wayfair is offering a clearance of up to 75% over the holiday weekend, on items including bedding, outdoor furniture, mattresses, and kitchen products. For instance, a $570 Andover Mills bed frame is just $242, and a six-piece rattan sectional sofa is going for 53% off at $564.
With deals like that, it’s not surprising that Wayfair’s revenue continues to surge and take share from brick-and-mortar retailers.
Fresh off the success of its annual Prime Day sale, Amazon (Nasdaq: AMZN) has some more deals lined up for Labor Day weekend. Once again, the tech giant is focused on selling its Alexa-powered Echo devices. The Echo Show with video display is discounted by $100 to $129 through Labor Day weekend, and other members of the Echo family, including the Dot, Plus, and standard Echo are also discounted.
In addition, Amazon is offering discounts on back-to-school items, including paper, calculators, and markers.
Not to be outdone, Target is also tossing its hat in the ring for Labor Day sales. Everybody’s favorite place for “cheap chic” items, Target is running an online-only sale for Labor Day, offering up to 30% off on home goods, with an additional 15% for items like furniture, rugs, and bedding. Among the items on sale are Casper mattresses, Kenmore outdoor grills, and a wide range of patio furniture.
Coming off its best quarterly traffic growth in more than a decade, Target’s product selection is clearly resonating with customers.
7. Bed Bath & Beyond
Bed Bath & Beyond (Nasdaq: BBBY), the home goods retailer that may be best known among shoppers for its coupons that never expire, is offering its own slew of Labor Day sales. It's offering up to 40% off of patio furniture, and up to $100 off of Dyson products like vacuums and fans.
The retailer has struggled recently with its stock down 75% over the last five years as it’s been challenged by Amazon, Wayfair, IKEA, and other competitors, and sales have continued to fall even in today’s stellar retail environment.
Like rival Home Depot and other home improvement retailers, Lowe’s (NYSE: LOW) is ringing in Labor Day weekend with plenty of its own deals. Lowe’s is offering a savings of up to 40% on appliances like Frigidaire refrigerators and Samsung washer/dryers. As the summer draws to a close, the retailer is sharply discounting patio furniture with sales of up to 75%, 20% off of outdoor grills, and 40% off of bath products.
With the housing market remaining strong, Labor Day should be a busy weekend for Lowe’s and other home improvement retailers.
9. Mattress Firm
With about 3,500 locations across the country, Mattress Firm, which also owns brands like Sleepy’s and 1800Mattress.com, is the leading national mattress retailer. Labor Day weekend is also the peak moving season in the year as families, students, and teachers relocate before the school year begins.
Not surprisingly then, privately-owned Mattress Firm is offering major savings during the holiday weekend with discounts of up to 40% on mattresses ranging in price from $37 to $5,000. Mattress Firm is also offering a free adjustable bed base with spending of $599 or more.
With multiple mattress retailers offering Labor Day sales, this weekend is a great opportunity for those who are in the market for a new bed.
Finally, Gap (NYSE: GPS), the ubiquitous everyday clothing chain that also owns Old Navy and Banana Republic, is offering Labor Day sales at its Factory stores. Items on sale include logo hoodies for 50% off, t-shirts at 68% off, and jeans at 50% off.
Gap is coming off a disappointing quarter, which saw its comparable sales at Gap brand fall 5%, although its two other chains posted growth. The staple brand seems to be losing share to competitors like Target, fast-fashion retailers, and even its downscale brand, Old Navy.
Get those deals
As the preceding list shows, Labor Day weekend is a great time to shop for things like mattresses, appliances, and patio furniture, but chances are you’ll find a wide range of products on sale at your local mall or department store. With the school year about to kick off, now is the best time for savings throughout the next few months as the next big round of sales won’t come until Black Friday and the holiday season.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Jeremy Bowman owns shares of J.C. Penney. The Motley Fool owns shares of and recommends Amazon and Wayfair. The Motley Fool has the following options: short September 2018 $180 calls on Home Depot, long February 2019 $185 calls on Home Depot, and long January 2020 $110 calls on Home Depot. The Motley Fool recommends Home Depot and Lowe's. The Motley Fool has a disclosure policy.