I think the outlet opens at midnight. I know you do want to get there at a decent time because its normally so crowded anyway, its really hard to find a parking spot.
I know one year a friend of mine went, and she said they have a good stock of purses they kept in the back that they bought out only for Black Friday. she said she got some really good deals. Not sure how they do it now though.
If you find out anything, post on here. I'll throw down for a Couch satchel or two!