Slide 14 of 23
Notes:
- We have also revalued a portion of our wine inventories in light of the slower-than-anticipated demand we’ve seen. Some will be sold at a loss; some have been written down to net realizable value. These write-downs coupled with our non-strategic asset sales have greatly strengthened our balance sheet.
- Currently, inventory/sales ratio = 0.87. We’re targeting 0.76 by F06, which will free up $60 million in working capital. Long0-term, I believe 0.70 is a reasonable target as we adopt more efficient, yet high quality, production methods.
