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99 Cents Only cleaning up inventory accounting
For the second time in the past six years, 99 Cents Only said it was unable to file its annual report within the timeframe specified by the Securities and Exchange Commission.
The company’s annual report on form 10-K for its fiscal year ended March 30 was due at the SEC no later than June 28. However, because of a range of inventory valuation issues identified by auditors and a new CFO, the company said it was unable to file the report without unreasonable effort or expense. The company did not indicate when it planned to file the report other than as soon as practicable.
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King of Food Lion managers takes top Delhaize prize
Food Lion store manager Charles Inman got a big surprise on Monday when some folks from the Brussels-based home office of parent company Delhaize Group showed up at his store.
Inman was selected from more than 3,400 Delhaize Group store managers to receive the company’s Store Manager of the Year award and company officials decided to surprise Inman with a ceremony at his store in Clayton, N.C.