US grocery chain Kroger has said the Securities and Exchange Commission contacted the company earlier this year for information regarding how Kroger accounts for vendor allowances.
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“We’ve provided all the information they requested and there have been no changes to the filings,” Gary Rhodes, a spokesman for Kroger, was quoted by the Financial Times as saying.
Kroger’s rival Albertsons said it had also received a letter from the SEC in recent weeks which stated that the SEC was “conducting an informal inquiry concerning how certain retailers treat allowances they received from their vendors”.
The SEC has been investigating accounting practices in the US food industry following accounting irregularities at US Foodservice, a unit of Dutch retailer Ahold.
Vendor allowances are volume-related rebates from suppliers, reported the Financial Times.
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