OKLAHOMA CITY (AP) — Oklahoma residents for the first time in 70 years will be able to legally enjoy the true meaning of Black Friday and its mega-deals after legislators repealed parts of a law that prohibited retailers from selling items below cost.
Low-price retail events, in which retailers price items at a steep discount to attract shoppers, were technically illegal in Oklahoma. That's because of a 1941 law called the Unfair Sales Act required retailers to sell products for at least 6 percent more than they paid for it.
It was originally put in place at the request of grocers who had grown weary of price wars.
The Oklahoma Legislature repealed parts of the law this year that apply to general merchandise, but it still applies to drugs, gas and groceries.