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WASHINGTON - The Securities and Exchange Commission has requested information from top supermarket chains on how they account for payments from vendors, according to published reports.
Cincinnati-based Kroger said it believes the review was conducted as part of the SEC's regular activities mandated by the Sarbanes-Oxley Act. The review covered Kroger's 2001 Form 10-K and its Forms 10-Q from the second and third quarters of fiscal 2002. Among the information requested was an explanation of how Kroger accounts for allowances received from vendors. Kroger complied with the SEC request and no changes to its filings were required.
Albertsons said it has also been contacted by the SEC about a similar matter.