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Ross Stores saw “pack-away” goods—those it buys and warehouses for six or more months—increase to 47% of consolidated inventories in February from 33% a year earlier. The company, which operates two off-price retail chains, also shaved its in-store inventories to run its business more efficiently. Both strategies will prove advantageous if inflation picks up, which seems likely given rising commodity prices and higher interest rates as governments seek to pay down enormous public debt. Hawaiian Airlines, which survived the 2008 spike in fuel prices, has also instituted a variety of policies to mitigate inflation.

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