Known as the largest off-price retailer in the U.S.A., Filene's Basement offers high-end and mid-end items at very low prices due to its markdown system. This markdown system includes displaying on the tag the date when the item was first put on sale, and then 12 days later, if it has not been sold, it is reduced by 25 per cent. Six days later, if the item still has not been sold, then the price is cut in half. After an additional six days, if the item has not been sold, then it is reduced to 75 per cent off the original price. After a total of 30 days, if the item has not been sold, then it is given to charity. Items for sale include all types of clothes, along with jewelry and shoes, and several types of house items.
620 Avenue of the Americas,
4 Union Square South; 2222 Broadway
Tel: 212 620 3100