Nash Finch Listing to Remain on Nasdaq
By George Anderson
Nash Finch will continue to have its stock listed without exception on Nasdaq
after complying with the requirements of maintaining a listing, says an Associated
Press report.
The grocery wholesaler and retailer will be required to files its quarterly
report and amended financial statements with Nasdaq and the Securities and Exchange
Commission (SEC) for the period ending Oct. 5, 2002 by March 19th. It must file
its annual report for the year ending Dec. 28, 2002 by March 28 according to
the agreement.
Nash Finch will continue to have an exception designation, “E”, added to its
ticker symbol until it is in full compliance with Nasdaq requirements.
Moderator’s Comment: Did the market overreact to Nash
Finch’s announcement last year that federal regulators were conducting an informal
inquiry into the company’s promotional allowance practices? Will investor skittishness
about retail accounting practices mean the end for slotting allowances?
[George
Anderson – Moderator]
Yes, and regretfully no.