Word: filenes
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...main selling point of the 76-year-old Filen's Basement is its "automatic markdown policy filen's buys overstock and irregulars form what it calls grit and glamorous stores, and then resells it at discount determined by a now famous formula. If the item sits on the rack for f12 days its initial prose will be cut by 25 percent. After six more days, the price is reduced 50 percent with in another six 75 percent. And if a piece of clothing doesn't sell by 30 days after it first hits the floor, Filen's gives...
...Filen's Basement didn't make any money on this policy for its first 10 years of life. But today. Filene's Bargain Basement has expanded to 15 stores in New England and plans to open more in a day-after Thanksgiving sale this year. Filene's Basement grossed an astounding...
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