Sears settles dispute over IT agreement

EL SEGUNDO, Calif. and HOFFMAN ESTATES, Ill. Computer Sciences and Sears Holdings today announced that they have settled contract dispute, which came out of a 10-year information technology agreement that they entered into in May 2004.

According to the companies, Sears has agreed to pay an undisclosed amount to CSC. CSC does not expect to experience a charge associated with the impairment of assets related to the Sears/CSC agreement. The settlement is not expected to have a material effect on Sears Holding full year earnings or its financial position.