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To: patron_anejo_por_favor who wrote (93952)	4/14/2001 1:07:27 PM
From: Roads End	Respond to of 436258

While I'm sure the February inventory shrinkage number of .2% (satisically insignificant) will get lots of media attention Monday morning let's not forget February inventories were up 4.7% from a year earlier. In addition even with the shrinkage in inventory the inventory-to-sales ratio remained flat (1.37). My personal guess is the rate of sales used in the inventory-to-sales ratio is too high given the consumer sentiment numbers, the increasing rate of cutbacks and layoffs, slowing sales from domestic autos and a build in unsold housing inventory. interactive.wsj.com