Loose goods stored in compartment (5)
I believe the answer is:
baggy
'loose' is the definition.
(I've seen this in another clue)
'goods stored in compartment' is the wordplay.
'goods' becomes 'gg' (an abbreviation for 'good' repeated).
'stored in' indicates putting letters inside.
'compartment' becomes 'bay' (bay is a kind of compartment).
'gg' put into 'bay' is 'BAGGY'.
(Other definitions for baggy that I've seen before include "(Of clothes) loose and hanging" , "Bulging" , "Falling in loose folds" .)