"Things are bad, so the retailer puts his goods on sale, and the customer holds out for bigger markdowns."

You have to take a big markdown on rotten fruit.

If sales do not pick up, many retailers, already burdened with excess inventories, may have to take big markdowns at summer's end.

Last month's revision by government statisticians marked down U.S. growth rates in each of the last three years, with the biggest markdown for 2000.

As a result, some retailers are able to offer big markdowns while still preserving their profit margins.

Yesterday Garber's had big markdowns, even on items with decades-old price tags.

There is a caveat, however, for those shoppers who postpone their purchases until the week before Christmas, when big markdowns are made.

The stores last year became so bloated with women's clothing that managers were forced to take big markdowns.

Nordstrom said the decline in earnings stemmed from the pay dispute, shoplifting losses, bookkeeping errors, and bigger markdowns during the Christmas season.

The Economy The Government will permit big markdowns on $16 billion worth of real estate it has for sale.