A walk-out jacket is a jacket branded as such for a simple walk in the park or related activities in which a not-so formal wear may be otherwise required. Commonly sold in third-world countries as luxury goods, for a rampant price.
That Nike "King" Walk-out jacket is too expensive in this market, it is costing 300 monetary units as such. In it's regular market it costs around 34 euros, mostly. Still, it's manufactured in Malasya.
When the entire senior class decides to stage a walk out in the middle of the day. Usually done in the second semester, and sometimes is even the senior prank (but mostly there is the prank, and the walk out).