•Off-price retailers, also known as closeout retailers, offer an inconsistent assortment of brand-name merchandise at a significant discount off the manufacturers’ suggested retail price (MSRP).
•Off-price retailers are able to sell brand-name and even designer-label merchandise at 20 to 60 percent lower than the MSRP because of their unique buying and merchandising practices.
•Most merchandise is bought opportunistically from manufacturers that have overruns, canceled orders, forecasting mistakes causing excess inventory, close-outs, and irregulars