Although many focus on spending time with loved ones during the holidays, Black Friday and Cyber Monday deals attempt to command the attention of consumers with the obvious promise of savings that cannot be found at any other time. But that’s not the whole truth, explained Alex Mill chairman Mickey Drexler to Yahoo Finance Executive Editor Brian Sozzi at Opening Bid.
The sales history, which made his mark as the CEO of J. Crew and Gap Inc. along with the founder of Ald Navy, he has mixed feelings about Black Friday, which he coined from ‘Black November.’ “Some department stores charge so much – so much higher than normal – that when they sell, their normal money is ‘sold out’ because they want to show the sale price,” he explained.
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This article was written by Rachael Lewis-Krisky, creator of Opening Bid.