Meaning of the word "factory outlet" in English

What does "factory outlet" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

factory outlet

US /ˈfæk.tər.i ˈaʊt.lɛt/
UK /ˈfæk.tər.i ˈaʊt.lɛt/

Noun

a store in which a factory sells its goods directly to the public, often at reduced prices

Example:
We found great deals on clothes at the new factory outlet.
Many brands have their own factory outlets to sell surplus stock.