Filene's Basement Automatic Markdown System

A description of The Basement's markdown system from a 1982 New York Times article:

"... every article is marked with a tag showing the price and the date the article was first put on sale. Twelve days later, if it has not been sold, it is reduced by 25 percent.

Six selling days later, it is cut by 50 percent and after an additional six days, it is offered at 75 percent off the original price.

After six more days — or a total of 30 — if it is not sold, it is given to charity."

In January 2004, the automatic markdown system was changed to require 14 days between each mark-down.