Black Friday History Essay

723 Words Feb 19th, 2015 3 Pages
Black Friday is the day after Thanksgiving in the United States, where it is the beginning of the traditional Christmas shopping season. Since Thanksgiving falls on the fourth Thursday in
November in the United States, Black Friday may be as early as the 23rd and as late as the
29th of November. More recently, there is new understanding that the term originates from the theory that retailers traditionally operated at a financial loss for most of the year (January through November) and made their profit during the holiday season. When this would be recorded in the financial records, accounting practices would use red ink to show negative amounts and black ink to show positive amounts. Black Friday, under this theory, is the
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Galanti, executive vice president and chief financial officer at Costco Wholesale, the nation’s second-largest retailer after Walmart. “We’ve never opened on Thanksgiving, and when the trend to do so occurred in the last couple or three years, we chose not to because we thought it was the right thing to do for our employees.” (newyorktimes.com some retailers promote to remain closed. ) The public is also weighing in on the decision for retailers to open on Thanksgiving.
Carrie Gleason, director of the Fair Workweek Initiative, a campaign pushing retailers to adopt schedules that are more friendly to workers, said, “What’s different from years past is there are more and more retailers coming out publicly and saying, ‘We’re staying closed on Thanksgiving.’ ” They want to demonstrate to their customer base that they’re family-friendly.” (newyorktimes.com Some retailers promote to remain closed.) More than 55,000 people have signed a petition on change.org urging Target to remain closed on Thanksgiving, while theBoycott Black Thursday Facebook page has more than
87,000 likes. Walmart officials say they are doing the consumer a favor by opening up on Thanksgiving. By opening on Thanksgiving they are cutting down on the Black
Friday lines! Walmart also announce that they

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