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English to English translations [PRO] Bus/Financial - Business/Commerce (general) / sports apparel company
English term or phrase:chase position
In its first year, this product collection represented nearly a quarter of the red label business within the department and played a significant role in the strong increase in revenues for that segment of department business. The department was able to execute a multi-million dollar ***chase position*** within the first few weeks of strong selling.
I think you need to look at the term execute in the sentence as well - to "execute a position" is financial trading jargon - especially futures trading perhaps. To "execute a multi-million dollar position" could mean to eliminate the risk from having a commitment to buy something by having created a commitment to sell the equivalent thing. See e.g. here, http://www.ftpress.com/articles/article.aspx?p=2005387&seqNu... for more on this.
I wonder if the writer of the text is just playing with concepts that allude to the great big world of finance "execute a position" and the great world of famous sporting events [Nascar] "chase position", but is only wanting to say that the department did brilliantly and turned over millions of dollars profitably???
Automatic update in 00:
1 hr confidence:
Explanation: When you contest your rivals in sport or in business.
Yevheniya Vavrenchuk Ukraine Local time: 01:08 Native speaker of: Russian, Ukrainian PRO pts in category: 4
in a good position to chase the leaders for top position
Explanation: ...and perhaps win.
So the department was lagging behind (other departments) in sales it seemed until "this product collection" started selling strongly in its first year and so greatly improved their position and gave them a chance of catching up and perhaps overtaking other departments...
Reference information: What you need to know about the qualifying for the Chase:
Under the new format, 16 drivers will qualify for the Chase For The Sprint Cup.
The top 15 drivers with the most wins throughout the first 26 races will earn a spot in the grid.
NOTE: these drivers must ALSO finish in the top 30 in points throughout the season, as well as attempt to qualify for every race.
The 16th ***Chase position*** will go to the points leader after the first 26 races, provided that the top points leader has not won a race yet.
Helena Chavarria Spain Specializes in field Native speaker of: English PRO pts in category: 16