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from my shopping visits, they are not aggressive at all on mark-downs - saw the same books (Stocks 2012) sit on the shelf for years and years. If you've been to these stores they often cram stuff in every place you can imagine, in a way other stores do not. FIVE for example is a very pretty, open store with clearly defined 'worlds' and clean merchandise selection and a lot of room to shop. OLLI is more flea market, esp. since the stores are huge compared to most of these places.

I haven't been to the stores, there are none near me. That's too bad because it sounds like my kind of place. I'm not surprised by your description, I looked long and hard for inventory write-offs in their 10-k and found none. It might be to their advantage to do write-offs from time to time.

Maybe it's the time I spent during one of my former lives in retail and distribution, but inventory bloat is a real deal killer for me. I do think it eventually comes back to bite you big time. Growth can hide the problem for quite a while (and you can make money while it does) but eventually tying up all that capital (and floor space) will start to weigh you down.
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