closeout vs sales event

closeout and sales event both are nouns.

Word	Noun	Adjective	Verb	Adverb
closeout	Yes	No	No	No
sales event	Yes	No	No	No

As nouns, sales event is a hypernym of closeout; that is, sales event is a word with a broader meaning than closeout:

closeout: a sale intended to dispose of all remaining stock
sales event: an occasion (usually brief) for buying at specially reduced prices

Other hypernyms of closeout include cut-rate sale, sale.

closeout (noun)	sales event (noun)
a sale intended to dispose of all remaining stock	an occasion (usually brief) for buying at specially reduced prices