closeout (plural closeouts)
- (surfing) A wave which breaks all at once, as opposed to breaking progressively along its length.
- Dealing with closeouts is something every surfer should learn – especially if you live and surf in California. — Chris Cote, Transworld Surf 
- (retail) A sale in which all merchandise is sold, at whatever reduced price is necessary
- close out, verb
retail: sale in which all merchandise is sold
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