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After adjusting for lower inventory levels, Mr. Anderson said the "implied revenue" figure for the quarter was $1.53 billion.
Any sell-off might be exacerbated because liquidity in the market has declined; market-makers have lower inventory than they used to.
Dillard's reported a 1.5 percentage point increase in gross margin, using cost controls and lower inventory levels, which trimmed its discounting.
Pierre Langlois, the chief financial officer, attributed growth in the United States, where drug sales rose almost 37percentt, in part to "lower inventory levels in wholesale distribution channels at the end of 2000".
The company that controls two-thirds of the world diamond trade, De Beers, said it had stopped buying gems on the open market, a policy that props up prices to lower inventory costs.
Among the advantages claimed for the system are the elimination of variations within a specific size, improved cloth utilization, efficient production of smaller orders, lower inventory requirements, and faster delivery.
Similar(37)
And there have been encouraging factors -- like continuing low interest rates, as well as lower inventory-to-sales ratios and lower growth of stocks of new homes and consumer durables -- which suggest that pent-up demand will lead to more sales.
With lower inventories, the downdraft in oil prices would be much weaker if OPEC increased production.
Lower inventories of heating fuel this winter could leave the region even more vulnerable to price volatility and possible shortages.
The company said lower inventories should allow it to take fewer markdowns in a climate it expects to be difficult.
Lower inventories and a weaker dollar lifted metal prices, with copper up 1.7%, and helped push mining shares higher.
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