Is it true that companies will sell their over stock clothing for cheap prices?

Certainly this is true. Companies like Mexx, Quiksilver, Levis and Guess often have annual or semi-annual lot sales at a specific larger venue where they bring in a collection of these overstock items either from their warehouses or from the retailers that have returned unsold products. These are great opportunities to get name brand products for as much as 90% discount from the original retail price.