RETAILING
- Share via
Vons to Take $56-Million Charge: Vons Companies Inc. said it will take $56 million in charges against 1992 earnings for the adoption of accounting changes for employee post-retirement benefits and income taxes. For the year ended Jan. 3, Vons said, it will record a $16-million charge for switching to the accrual method of accounting for non-pension retirement benefits. The grocery chain and food-processing company had previously accounted for retirement benefits under the “pay as you go” basis. Vons will post an additional charge of $40 million by switching to the liability from the deferred method of accounting for income taxes. Vons was a supplier of meat to Foodmaker Inc.’s Jack in the Box chain, which has been linked to nearly 500 cases of food poisoning and two deaths because of bacteria-tainted hamburgers.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.