noun a sale of merchandise at reduced prices to get rid of excess inventory
verb to sell off merchandise at reduced prices to get rid of excess inventory
In real estate, 'close out' can refer to the final stage of a property sale, where all paperwork is completed and ownership is transferred.
In construction, 'close out' signifies the completion of a building project, including inspections, approvals, and handover to the client.
In finance, 'close out' is used to describe the act of liquidating a position or investment, often to cut losses or secure profits.
In manufacturing, 'close out' may indicate the end of a production run or the discontinuation of a product line.
In project management, 'close out' is the phase where all project activities are finalized, and any remaining tasks or issues are resolved.
In retail, 'close out' refers to the process of selling off remaining inventory at reduced prices in order to make room for new products.
In the publishing industry, a writer may be asked to close out a project by completing final edits, revisions, and submitting the final manuscript for publication.
A psychologist may use the term close out to refer to the process of concluding a research study, including analyzing data, writing up results, and preparing a final report.
In project management, close out refers to the final stage of a project where all tasks are completed, final documents are submitted, and the project is officially closed.
An accountant may use close out to refer to the end of an accounting period where financial statements are finalized, adjustments are made, and accounts are closed for the period.
In retail, close out can refer to the process of selling off remaining inventory at discounted prices to make room for new merchandise.