A closeout or clearance is the final sale of an item or items to zero inventory. It may be a given model of item that is not selling well, or in the case of the final closure of a retailer because of a relocation, a fire, or especially because of a bankruptcy.
What is a closeout store?
A closeout store is a retailer specializing in buying closeout items wholesale from others and selling them at low prices.
What does outlet mean in furniture?
An outlet item is a featured item offered at a low price every day. Outlet items are regularly in stock and available for purchase. Outlet items are not limited-time offers – they are simply brand-new pieces at exceptionally low prices.