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thats true, but also take into account they bought 2 billion in inventory this quarter with cash.
After holidays cash is around 1.5 billion, see fitch article
They didn't buy holiday inventory in 2011?
Inventory is only up $376M over '11 yet cash and short-term investments is down $1.784B
The company is bleeding cash and is screwed is sales are bad this holiday season. They will have to mark things way down Jan. to get people to buy.