The phrase refers to the promotional event held annually at a major home improvement retailer, offering significantly reduced prices on a variety of implements and equipment used for construction, repair, and maintenance. As an example, a cordless drill combo kit typically retailing for \$199 might be offered at \$99 during this period.
These sales events are important for both consumers and the retailer. Consumers benefit from the opportunity to acquire necessary tools at a lower cost, potentially enabling home improvement projects that might otherwise be unaffordable. For the retailer, these promotions drive substantial sales volume and attract a high volume of customer traffic, creating opportunities for upselling and brand loyalty. The tradition has evolved into a significant part of the annual retail calendar, influencing consumer spending patterns.