Shoes are usually 25% off for Black Friday. I've never seen them at a flat 40% off.
Correct, except that inventory is pretty non-existent at that point in time. I thought about getting a pair of shoes, but there was nothing left in my size that I had any interest in.
It was either 2011 or 2012, but one of those years there was a black Friday sale which was 25% off shoes plus an additional 20% off if you used a Mastercard. I think SF cleaned out the Peal selections that year when they were all in the mid-$300's.
I always place my order for 12/26 a week in advance with my SA. Inventory typically gets cleaned out over Black Friday and five days of savings sales. There's a particular item I have my eye on currently that is already sold out in most sizes and may not make it until next week. My SA for BB has commented numerous times that BB inventory levels are much lower the last few years than in year's past.
This is what he does when the item is in stock in the store, but when it's not, I think he either does a cost override of sorts or charges me full price and then credits me the difference between full price and the sales price when I come to pick everything up after the sale. I'm not sure on the how, what, why or when for BB pre-sale methods, but my SA is a 20-plus year veteran and knows how to manuever them.