Guerrilla Retailing Life in the Fast Lane
The day after Thanksgiving is commonly referred to as "Black Friday" because it is the day most retailers hope to finally turn the corner into profitability for the year. Friday, November 26, was the official kick-off to the shopping season.
Michael Duke, president of Wal-Mart's store division, knew they were in trouble by 8 a.m. While he was in an Atlanta store, he began receiving reports on his BlackBerry of slow early-morning sales from other regions. He drove past Kohl's, Sears, Target and Best Buy to compare how they were doing.
The news reported to investors the next day confirmed Duke's initial gut feeling. Sales for the important day were only 0.7 percent higher than they were the year before.