WHy do they call Black friday, "black friday"?
By couturekitty
@couturekitty (204)
United States
8 responses
@arman9890 (452)
• India
29 Nov 06
Well Black Friday is the day when it happened..!! Bomb Blast in Mumbai (India). There was a movie as well which made but couldn't released because of so many things in the movie...
Black Friday name is true..
1 person likes this
@fsustriker (826)
• United States
29 Nov 06
I actaully have no clue, I have always wondered it myself. Other than just being the day people go off and buy stuff, cause theres always a sale going on that time of year.
@cloud_kicker_32 (4635)
• United States
29 Nov 06
AWWW I GOTS THIS ONE!! LOL i looked into this last year when i ask my friend the same questions..The term Black Friday was first used to describe Sept. 24, 1869, when several financiers had tried to corner the gold market and the market crashed, and a depression ensued. Another panic in the financial markets in 1873 also began on a Friday.
The Great Depression was precipitated by the Oct. 29, 1929 start of the stock market collapse. But that was Black Tuesday. Another bad day for the stock market—Oct. 19, 1987—was called Black Monday.
The term is now applied to the big shopping day after Thanksgiving. You might think it describes the bleak scene of hoards of shoppers trampling each other to snag the last DVD player on the shelf. But actually it's because it is when retailers' balance sheets supposedly move out of the red (red ink was used by accountants of old to indicated losses) and into the black (the color of ink you want to see if you have a really high-paying job as a CEO). The other way of putting it: If the annual shopping Black Friday does not go well, then the whole year, at least from an individual company's perspective, can turn out a lot like the other Black day in history.
@Meljep (1666)
• United States
29 Nov 06
If you've ever reconciled your accounting books you know that there is a term "in the red" and a term "in the black" . In the red means you have come up short and there is not enough money to cover your bills. If you are "in the black" you have money left over to pay what needs to be paid - hence the term "black Friday". Retailers have money at the end of the day to pay their bills.
@tlex107250 (667)
• United States
29 Nov 06
It's the busiest shopping day of the Christmas season. The color black refers to making a profit. So black friday is a money making opportunity for retail stores. Most people are buying rather than returning merchandise.