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by magicnubs
2179 days ago
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> There's still a high number of items from various in-house brands from Florida department store Bealls (namely Coral Bay, Reel Legends, and Dept 222) Looking at the chart, it appears these 3 brands were all in the top 4 most commonly sold (or at least available for sale) brands at Goodwill in by 2019, and they've been in the top 10 or so for years. I can't imagine organic amounts of resale from a Florida-only department store chain could account for this. So is Bealls just straight selling their old stock to Goodwill for cheap? Or maybe even giving it away as a write-off (and to reduce cost to store items they don't think they'll ever be able to sell). I wonder how much of Goodwill's stock actually comes from things like this, as opposed to houseful donations. |
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A significant proportion of items from a new range had been returned as faulty. When they investigated they realised a new factory they were using for this range had slipped a huge amount of bad items through the reatilers QA process. They ended up writing down the whole line and donating it to Oxfam/Redcross to be sold in their charity shops, very similar to Goodwill. It was 100,000's of items.
They were already writing the goods down as a loss against their balance sheet and they managed to recoup a small percentage of that loss as a tax deduction for the charity donation.
It didn't happen often, but it wasn't the first time they'd done it