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Closeout (sale), the Glossary

A closeout or clearance sale (closing down sale in the United Kingdom) is a discount sale of inventory either by retail or wholesale.^[1]

36 relations: Bankruptcy, Big Lots, Boxing Day, Car dealership, Cash flow, Chain store, Charity shop, Christmas, Consumer Protection (Distance Selling) Regulations 2000, Consumer Rights Directive 2011, Discounts and allowances, Drop (company), Dutch auction, Federal Trade Commission, Fire, Fire sale, Garden furniture, Grease pencil, Hail, Halloween, High–low pricing, Inventory, Liquidation, List price, Longman, Marshalls, Merchandising, Ross Stores, Sale of Goods Act 1979, Santa Claus, TJ Maxx, United Kingdom, Value City, Week, Wholesaling, WINK-TV.
Business failures
Retail pricing
Sales and clearances

Bankruptcy

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts.

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Big Lots

Big Lots Stores, Inc. (stylized as Big Lots!) is an American discount retail chain headquartered in Columbus, Ohio, United States.

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Boxing Day

Boxing Day is a holiday celebrated after Christmas Day, occurring on the second day of Christmastide (26 December).

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Car dealership

A car dealership, or car dealer, is a business that sells new or used cars, at the retail level, based on a dealership contract with an automaker or its sales subsidiary.

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Cash flow

Cash flow, in general, refers to payments made into or out of a business, project, or financial product.

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Chain store

A chain store or retail chain is a retail outlet in which several locations share a brand, central management and standardized business practices.

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A charity shop (British English), thrift shop or thrift store (American English and Canadian English, also includes for-profit stores such as Savers) or opportunity shop or op-shop (Australian English and New Zealand English) is a retail establishment run by a charitable organization to raise money.

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Christmas

Christmas is an annual festival commemorating the birth of Jesus Christ, observed primarily on December 25 as a religious and cultural celebration among billions of people around the world.

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Consumer Protection (Distance Selling) Regulations 2000

The Consumer Protection (Distance Selling) Regulations 2000, SI 2000/2334, implementedEnacted pursuant to European Communities Act 1972 European Directive as UK law.

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Consumer Rights Directive 2011

The Consumer Rights Directive 2011/83/EU is a consumer protection measure in EU law.

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Discounts and allowances

Discounts and allowances are reductions to a basic price of goods or services.

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Drop (company)

Drop (formerly Massdrop) is an American e-commerce company based in San Francisco, California.

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Dutch auction

A Dutch auction is one of several similar types of auctions for buying or selling goods.

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Federal Trade Commission

The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection.

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Fire

Fire is the rapid oxidation of a material (the fuel) in the exothermic chemical process of combustion, releasing heat, light, and various reaction products.

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Fire sale

A fire sale is the sale of goods at extremely discounted prices.

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Garden furniture

Garden furniture, also called patio furniture or outdoor furniture, is a type of furniture specifically designed for outdoor use.

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Grease pencil

The grease pencil, a wax writing tool also known as a wax pencil, china marker, or chinagraph pencil (especially in the United Kingdom), is a writing implement made of hardened colored wax and is useful for marking on hard, glossy non-porous surfaces.

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Hail

Hail is a form of solid precipitation.

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Halloween

Halloween or Hallowe'en (less commonly known as Allhalloween, All Hallows' Eve, or All Saints' Eve) is a celebration observed in many countries on 31 October, the eve of the Western Christian feast of All Hallows' Day.

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High–low pricing

High–low pricing (or hi–low pricing) is a type of pricing strategy adopted by companies, usually small and medium-sized retail firms, where a firm initially charges a high price for a product and later, when it has become less desirable, sells it at a discount or through clearance sales. Closeout (sale) and High–low pricing are retail pricing.

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Inventory

Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation.

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Liquidation

Liquidations is the process in accounting by which a company is brought to an end.

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List price

The list price, also known as the manufacturer's suggested retail price (MSRP), or the recommended retail price (RRP), or the suggested retail price (SRP) of a product is the price at which its manufacturer notionally recommends that a retailer sell the product.

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Longman

Longman, also known as Pearson Longman, is a publishing company founded in London, England, in 1724 and is owned by Pearson PLC.

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Marshalls

Marshalls is an American chain of off-price department stores owned by TJX Companies.

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Merchandising

Merchandising is any practice which contributes to the sale of products to a retail consumer.

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Ross Stores

Ross Stores, Inc., operating under the brand name Ross Dress for Less, is an American chain of discount department stores headquartered in Dublin, California.

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Sale of Goods Act 1979

The Sale of Goods Act 1979 (c. 54) is an Act of the Parliament of the United Kingdom which regulated English contract law and UK commercial law in respect of goods that are sold and bought.

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Santa Claus

Santa Claus (also known as Saint Nicholas, Saint Nick, Father Christmas, Kris Kringle, Santa, or Klaus) is a legendary figure originating in Western Christian culture who is said to bring gifts during the late evening and overnight hours on Christmas Eve.

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References

[1] https://en.wikipedia.org/wiki/Closeout_(sale)

Also known as Clearance Sale, Closeout sale, Closeout store, Closing down sale, Closing-down sale, Going out of business sale.

Closeout (sale), the Glossary

Table of Contents

See also

Business failures

Retail pricing

Sales and clearances

References