Closeout Retailing
Company Management believes that closeout retailing is a growing segment of the retail sector. Closeout retailers carry the same brand name products found at other retailers, but at substantially lower prices. Closeout retailers purchase excess product at significant discounts from manufacturers and others who want or need to reduce inventory as a result of production overruns, package changes, discontinued products or returns from merchandisers. Closeout retailers also take advantage of generally lower prices in the off-season by buying and warehousing seasonal and general merchandise for future sales. As a result of this lower cost of goods, closeout retailers can offer the same merchandise at significantly lower prices than those offered by traditional retailers.