Last I was at my local Saturn (Sambuceto, Chieti) they had a similar discount on the base 21.5". It was 1079 or so, and I actually spoke with the dept. clerk and asked him about availability. He said that they do have enough in stock, however he couldn't give any estimate about supplies because it's Apple who decides when to restock. With other manufacturers, he said, it's the store/chain that requests more units from the distributor when they're low; with Apple, on the other hand, there are no intermediate distributors so the requests they make for new supplies may never come or may come at Apple's own leisure. Note the Saturn and Mediaworld are "cousin" chains, both owned by MediaMarket Italia which is a branch of the Germany-based MediaMarkt GmbH chain.
Anyway kind of echoes what my local Apple Premium Reseller (Ormi in Pescara) told me a few months back: "we honestly have no idea when the new models are being released; the 2011 model comes in and goes out [he literally said "entrano ed escono"] just fine, and Apple doesn't tell us in advance about new models."
It's also worth mentioning that chains like Mediaworld, Saturn and even FNAC and the others don't strictly have a big need to sell Macs. Since Apple's prices are pretty much fixed (save for occasional discounts such as the ones both you and I have seen), they don't care much for Mac sales. I have witnessed clerks try to convince confused clients that "you can't find much software for the Mac, why don't you look at this HP here that runs the ubiquitous Windows 7 and is also quite cheaper?"
So yeah, unless we really see stocks dwindling everywhere (in the US at least), I don't think we can take it as a clear sign. Which is extremely disappointing. I'm almost considering a refurb 2011 again.