By AP
Oklahoma City, OK – AG opinion: Black Friday sales can't be below cost
OKLAHOMA CITY (AP) An Oklahoma attorney general's opinion says state law prohibiting retailers from selling items below cost applies to Black Friday and back-to-school sales.
Large retailers have come to offer deep discounts on items such as toys and electronics on the day after Thanksgiving which has come to be known as Black Friday.
The opinion says discounts that are below the state's definition of "cost" violate the state's Unfair Sales Act. Cost is defined as the invoice or replacement cost to the retailer plus a 6 percent markup. The act is intended to prevent large retailers from using below-cost pricing to drive small competitors out of business.
Attorney general's spokeswoman Diane Clay told The Oklahoman that holiday discounts are appreciated but that the law applies at all times.