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The company began in 1945 as Tone Appliances and Furniture, a single store on Belmont Avenue in Chicago. Walter E. Smithe and Bill Shanahan founded the store anticipating a booming economy in the wake of World War II. The two renamed the store Smithe and Shanahan, but Bill Shanahan eventually sold his share to Smithe's brother Charlie.
Outlet stores sell Sears merchandise at discount. [13] Outlet stores are approximately 18,000 square feet and equipped with items such as home appliances, lawn and garden equipment, apparel, mattresses, sporting goods and tools. [3] Outlet stores sell discontinued, used, cosmetically blemished or reconditioned merchandise with new parts. [3] [14]
The Outlet Collection Seattle opened on August 25, 1995, under the name "Supermall of the Great Northwest". [3]Its anchors then included Nordstrom Rack, Bed Bath and Beyond, Oshman's SuperSports USA (Later Sports Authority until 2016), Burlington Coat Factory, Saks Fifth Avenue (later Old Navy and Ulta Beauty), Marshalls (later Dave & Buster's), and Incredible Universe. [4]
A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
An outlet store, factory outlet or factory store is a brick and mortar or online store where manufacturers sell their merchandise directly to the public. Products at outlet stores are usually sold at reduced prices compared to regular stores due to being overstock , closeout , returned , factory seconds , or lower-quality versions manufactured ...
A variety store (also five and dime (historic), pound shop, or dollar store) is a retail store that sells general merchandise, such as apparel, auto parts, dry goods, toys, hardware, furniture, and a selection of groceries. It usually sells them at discounted prices, sometimes at one or several fixed price points, such as one dollar, or ...
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