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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 ]
In other cases, the merchant is assessed "counter rent" for a "store-within-a-store" concept, common in the cosmetics industry, but also not unheard of in clothing. In other cases, the vendor agrees to buy back unsold merchandise from the retailer — this is a common arrangement for higher-value seasonal clothing, like designer coats.
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Big Lots Stores, Inc. (stylized as Big Lots!) is an American discount retail chain, specializing in the sale of closeout and overstock merchandise. Founded in 1967 as Consolidated Stores, the chain is headquartered in Columbus, Ohio, and includes over 900 locations across the United States.
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Sales promotions targeted at retailers and wholesale are called trade sales promotions. Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate immediate sales.
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