Business writes black or red ink, no white ink. Profit & Loss.
The term "Black Friday" seems to have originated in Philadelphia. And it wasn’t because businesses finally showed a profit.
Sure, everybody calls it Black Friday now, but retail scholar Michael Lisicky says for decades, it was an inside term — first coined in 1966 by Philadelphia Police — because they hated it.
In those days, the Friday after Thanksgiving not only marked the start of the Christmas Holiday shopping season, but it also was the day before the Army-Navy Game, a longtime Philadelphia fixture. And that meant traffic, traffic, traffic, crowds, crowds, crowds, and also drew out shoplifters and other neer-do-wells.
The goal was to make it a day that shoppers wanted to avoid. The negative name started to spread outside Philadelphia a few years later.
Some oral accounts hold that Peter Strawbridge, president of Strawbridge & Clothier, gave "Black Friday" its currently accepted meaning as the day retailers went from the red into the black. But no documentation has yet been found to support that.
Until that time, "Black Friday" usually referred to the stock market crash of 1869.