Ally,
The short answer is that Woodhaven has seen a substantial decrease in production volume in due to slow demand for new products at the store level. After making a significant investment in inventory for the expected busy season of 2016, the slow down created a surplus situation in inventory our response has been to reduce, defer, or cancel many orders in an effort to reduce our inventory back to a manageable level. The slowdown in new orders and resulting efforts to decrease our inventory has reduced our corresponding AP balance. Inventory at Woodhaven as of the end of February 2016 was at approximately $24 million. It now stands at $19.5. The reduction has been achieve even though our sales volume with Aaron’s is down approximately
The short answer is that Woodhaven has seen a substantial decrease in production volume in due to slow demand for new products at the store level. After making a significant investment in inventory for the expected busy season of 2016, the slow down created a surplus situation in inventory our response has been to reduce, defer, or cancel many orders in an effort to reduce our inventory back to a manageable level. The slowdown in new orders and resulting efforts to decrease our inventory has reduced our corresponding AP balance. Inventory at Woodhaven as of the end of February 2016 was at approximately $24 million. It now stands at $19.5. The reduction has been achieve even though our sales volume with Aaron’s is down approximately