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Saks Discloses Further Inquiry

Its audit committee will look into whether the company improperly assessed 'chargebacks' on merchandise vendors for not complying with the logistics, transportation, or billing policies of the company.

> > The audit committee will also investigate possible overcollections of vendor markdown allowances in merchandising divisions that were not the subject of the prior investigation of the committee. In addition, it will look into whether the company has improperly assessed "chargebacks" on merchandise vendors for not complying with the logistics, transportation, or billing policies of the company.
Source: CFO


Published:2005-06-06
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