Abstract: A peg racking device which facilitates loading of new inventory on the back of the peg without removing the existing inventory from the front of the peg so that the inventory is sold on a FIFO basis. An elongated shaft, the rear end of which is attachable to a wall. The device includes an elongated shaft, the rear end of which is attachable to a wall, and a removable sleeve which is axially moveable along the shaft. A locking mechanism is provided having first and second elements, the first element being carried by the shaft and the second element being carried by the sleeve. The first and second elements engage one another in the locked position to prevent relative axial movement of the sleeve with respect to the shaft. The device may include a handle having a cavity formed to receive the front end of the sleeve to assist in removing the sleeve from the shaft and replacing the sleeve on the shaft, reducing the risk of dropping the sleeve and/or inventory on the sleeve during the restocking process.