1. merchandise sold at reduced prices to clear inventory
Usage: business; retail
2. final sales events to dispose of remaining stock
Usage: business; retail

Examples

• The store had great closeouts on winter coats in March.
• She always shops the closeouts section for bargains.
• The bookstore’s closeouts included many bestsellers at half price.
• Retailers often schedule closeouts at the end of each season.
• The electronics store advertised major closeouts on last year’s models.
• Many customers wait for closeouts to buy expensive items cheaply.