TITLE

Sears Lowers 4Q Results

PUB. DATE
February 2005
SOURCE
Home Textiles Today;2/21/2005, Vol. 26 Issue 24, p27
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Sears, Roebuck and Co. has made two filings of clarification with the Securities and Exchange Commission regarding its finances. Sears is filing an amended Form 10-K and several amended Form 10-Qs for the fiscal year ended January 3, 2004 to correct an error in its consolidated statements of cash flows. Also, the company stated that it has found an error in its accounting practices associated with construction allowances. The allowances had been classified on the balance sheet as a reduction of property and equipment and were amortized as a reduction depreciation expense over the estimated useful life of the property and equipment.
ACCESSION #
16201691

 

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