Top Definition
Event that usually takes place at a large retail store. Occurs when the store is overrun by little old ladies in power scooters who either attempt to run you over or situate themselves in the middle of aisleways so they can chit chat with other Granny 500 participants, preventing anybody else from being able to travel down that particular aisle.
I went to Wal Mart yesterday and the Granny 500 was going on again.
by Gollum May 30, 2007

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