11.   The good times abruptly ended when the company warned in April that it had moved too fast and would have to sell off excess stock at a big discount.

12.   The plan exposed flaws in distribution and management systems and caused problems of excess stock that the company then had to discount to clear.

13.   The wines must come from private collections, which prevents importers, distributors and even other retailers from using the auctions to move excess stock.

14.   While consumer demand may recover in the months ahead, analysts say companies will still have to empty their warehouses of excess stocks.

15.   Wholesalers also faced excess stocks in North America after a disappointing Christmas, resulting in lower shipments.

16.   Analysts said the buying surge was due largely to discounts as businesses, particularly car dealers, struggled to reduce excess stocks.

17.   At that time, companies throttled back production and focused on getting rid of excess stocks of unsold goods, which piled up during the slump.

18.   Economists say companies must whittle excess stocks in order to set the stage for increased production in the future, something that could help economic growth down the road.

19.   Economists view reductions in excess stocks a positive development because it brings supplies more in balance with demand and puts companies in a more stable position going forward.

20.   Economists view reductions in excess stocks as a positive development because it brings supplies more in balance with demand and puts companies in a more stable position going forward.