Department Store - sells an enormous assortment of nationally advertised merchandise under one roof. Branches are usually in shopping centers. Expect to pay full retail price except during sales. Sales run 10-30% off, but be careful of sale days when items have been made just for that sale, and may be cheaply made or a skimpy fit. PRO - you can return or exchange merchandise, charge it, sometimes layaway, order by mail and by phone. CON - merchandise is discounted only during sale periods.

Chain Store - One of a group of stores running under the same name. Discounts are on sale items and are about 10-30% off. PRO - you can return merchandise bought in one store to another of the same chain. Merchandise is displayed nicely. CON - No delivery and usually no mail or phone orders.

Boutique - A small specialty store, usually stocking one kind of merchandise or items of a very special nature. Discounts can be 0-50% when there is a sale. PRO - often offer specialty in terms of service and services, e.g. alterations. CON - Regular prices will be 100% over wholesale. No delivery or phone orders.

Discount Store - Regularly sells merchandise (often brand names) at discounted prices. Selection and quality may vary in that they may sell firsts, seconds, irregulars, samples, overstocks and closeouts. Discounts will be 20-80%. PRO - You can buy brand name merchandise at discounted prices at any time. CON - Merchandise may be cluttered and you may not find all sizes. There may be a no-return policy. Some may not rake charges or cheques.

Factory Outlet - A clothing or other furnishings manufacturer which makes the item that it sells wholesale (and now retail). You may find name brands of other manufacturer as discontinued lines, off-season stock, closeouts, or irregulars. Often located in outlying areas or low rent districts. Discounts RE 30-90%. PRO - Quality items can be bought at rock bottom prices. CON - They may require cash only. Sales assistance is spotty. There may be communal dressing rooms or none at all. Not everything can be found in all sizes. Hours can be changed without notice.

Cancellation (or Returns) - An item which was ordered by retail store, then cancelled, usually due to late delivery. Quality of these items is generally excellent.

Carryover - Last year's merchandise.

Closeout - Goods that a manufacturer or retailer wants to clear from stock because the selling season has ended or fashion has changed.

Discontinued - An article whose color, style or finish is no longer made.

Floor Sample - An item that was displayed in stores and has been touched by browsers.

Freight Damaged - Sometimes for insurance purposes, an entire lot may be labeled "damaged" even though only a few things were marred. The rest of the items can be sold at a great reduction.

Gray Market Goods - Brand name audio/video/electronic items that are sold 20% to 30% less than factory authorized dealers. They are not illegal or defective, and meet the same manufacturing standards, BUT the warranty is usually not valid here and the product would have to be sent overseas to the U.S. for warranty repairs.

In-Season Buying - Retailers usually buy pre-season. Discounters will buy in-season, relieving the manufacturer of old stock to him but in season for us.

Irregulars - Minimally flawed items whose utility and appearance is usually unaffected (broken buttons, crooked hem stitches, etc.)

Knockoff - A copy or near copy of a famous designer's design with a different label (sometimes the retailer's). It's usually excellent value, with the great difference in price attributed to a cheaper fabric and finishing.

Liquidated Stock - A company with financial problems may sell its inventory to stores at low prices in order to liquidate assets for cash.

Loss leader - An items priced unusually low to lure you to the store with the hope that you'll do other full price buying.

Overruns - A manufacturer usually makes more than he needs of an item to make sure he has sufficient quantity to fill his order with perfects. The excess merchandise is sold off for whatever price they can get.

Sample - An item which is shown to a prospective merchant by a manufacturer's representative.

Seconds - Items miss-marked, misshapen or miss-colored.

Special Purchase - Merchandise ordered for a specific purpose (sale or closeout). May not be the same quality as a regular merchandise.