REI's Closing for Black Friday Is Gutsy and Smart. Will Other Retailers Follow? | Michael Silverstein
Last week, outdoor-action-sports retailer REI announced that it would be closed for Black Friday, a day most retailers hope will be their biggest sales day of the year. It's a gutsy move that reflects the compass of company CEO Jerry Stritzke. Stritzke is a relative newcomer to REI, a cooperative owned by its customers. The 76-year-old company has been on a roll since Stritzke became CEO in 2014. A veteran of Coach and Victoria's Secret, Stritzke is an outdoor enthusiast who wants his frontline sales team motivated, engaged, and happy.
The history of U.S. retail is littered with