Patagonia to donate all Black Friday sales to charity
For more than three decades, Patagonia has donated 1 percent of its annual sales — to the tune of $74 million — to environmental causes. The outdoor clothing company is taking its commitment to the environment one step further this year by pledging 100 percent of its Black Friday sales to grassroots environmental groups.
Patagonia's "100 Percent for the Planet" initiative is expected to bring in more than $2 million on Nov. 25, reports CNN Money. The donations will come from Black Friday sales at Patagonia's 80 retail stores and its website.
Check out your favorite stores' hours on Thanksgiving and Black Friday below:
In a post on its site announcing the outdoor clothing retailer's Black Friday donation plan, Patagonia CEO Rose Marcario says it's "more important now than ever" for small grass-roots environmental organizations in communities across the U.S. to have the monetary support necessary "to protect our air, water and soil for future generations."
The company says current events, including the election of controversial President-elect Donald Trump, inspired it to step up its game in the giving department. Trump has vowed to "cancel" U.S. participation in the Paris climate accord, which is a country-by-country global effort to rein in greenhouse gas emissions and slow the impact of global warming, The Washington Post reports.
"If we don't act boldly, severe changes in climate, water and air pollution, extinction of species and erosion of topsoil are certain outcomes. The threats facing our planet affect people of every political stripe, of every demographic, in every part of the country. We all stand to benefit from a healthy environment—and our children and grandchildren do, too."
The money raised from Patagonia's Black Friday retail sales — that's sales, not profits — could help up to 800 environmental charity organizations at work in the U.S. and abroad, says CNN Money.
What do you think of Patagonia's pledge to donate all its Black Friday sales to environmental charities? Sound off below or on our Facebook page.More from MoneyTalksNews:
8 Ways to Get Your FICO Score for Free
The 10 Best Ways to Blow Your Money
17 Restaurants Offering Free Gift Cards for the Holidays