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The retailer's attempt to reintroduce markdowns last year failed to reverse the damage, and sales fell a jaw-dropping 25% by end of fiscal year 2012/2013, depriving it of $4.3 billion in revenue.
Moreover, a note can include a discount that increases over time – e.g., (i) 1.5% per month up to 25%; or (ii) 10% if the Series A round closes within 6 months, 15% if it closes between 6 and 12 ...