Business Services Industry
SEC Begins Informal Probe of Fleming Cos.' Accounting, Sales Reporting.
Knight Ridder/Tribune Business News, November, 2002
The Dallas Morning News Knight Ridder/Tribune Business News
Nov. 14--Fleming Cos. warned investors Tuesday that the Securities and Exchange Commission has begun an informal inquiry into the accounting and sales reporting practices of the Lewisville-based wholesale grocery supplier and retailer.
In a late afternoon statement, Fleming said the Fort Worth staff of the SEC said it wanted to look into Fleming's "vendor trade practices," how Fleming reported earnings per share for second quarter 2001 and how it calculated comparable store sales in its discontinued retail operations.
In addition, the "preliminary fact-finding inquiry" will look into how Fleming accounted for merchandise shipped directly from an unaffiliated vendor to its...
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