There are actually three, and if you take the time to look, you can get deals there.
1) there is one (not owned by Disney) on 535 in the outlet mall between the
Walmart and International Drive South. It is in the back of the outlet mall next to the Nike store.
2) there is one in the prime outlet mall next to the old Dolly Parton Dixie thingy right next to I-4. It is now located in the dead center of the place since they have added a third whole section in the back. My suggestion would be to park in the parking deck on the right hand side in the back and go through the back way. It is located right next to the food court. You get there by going down the road, which I forget the name, that is just past the I-4 exit for Downtown Disney. I think the name of the street is called vineland or something like that, but there is a buffet place on the corner and an out of business denim outlet across the street from the intersection.
3) the last one is in the new and improved prime outlet sections over off of Iinternational Drive. You will have to go all the way to the end of I-Drive, past the BassPro Mega Store and the outlet mall is at the end of the street. If you go through the light, you enter the mall. The store is in the back on the right hand side before you get to addidas.
I have found the best deals at #2, but #3 comes a close second. Just remember, if you are looking for sweatshirts, look in the summer. If you are looking for shorts, look in the winter and so on.