Definition

1. Noun:
   • A sale intended to dispose of all remaining stock: A commercial event where a retailer sells off the last items of a particular product or line, often at a reduced price, to clear inventory and make room for new goods.

Usage

• Noun:
  • The store is having a closeout on last season's winter coats.
  • We bought these chairs at a fantastic price during the furniture closeout.

Advanced Usage

• "To hold a closeout": To organize and run a sale to clear out inventory.
  • The company decided to hold a closeout before renovating the showroom.
• "Closeout merchandise/prices": The goods or the discounted pricing associated with such a sale.
  • The closeout prices on these electronics are unbeatable.

Variants and Related Words

• Close out (phrasal verb): To conclude, end, or dispose of something, especially a business deal or inventory.
  • They will close out the fiscal year next week.
  • We need to close out this old inventory to make space.

Synonyms

• Clearance sale: A sale to clear out merchandise.
• Liquidation sale: A sale, often final, to sell off all assets or stock.
• Final sale: A sale marking the end of availability for certain items.

Related Phrases

• Closeout model: A product being sold to clear stock, often an older version.
  • This laptop is a closeout model from last year.
• Closeout bid: In auctions or contracts, a final bid to secure the last items or conclude a deal.
  • They won the contract with a last-minute closeout bid.

Noun

1. a sale intended to dispose of all remaining stock