Kohl’s delays quarterly filing
New York City -- Kohl’s said it has notified the U.S. Securities and Exchange Commission that it is delaying filing its second quarter filing as its deals with previously reported errors in its accounting for both store and equipment leases.
As a result of these and other less significant accounting corrections, Kohl's expects to record additional property and financing obligations on its balance sheet. The company said it doesn't expect the corrections to have an impact on the net increase or decrease in cash and cash equivalents reported.
Kohl's said it expects to file the results for the second quarter, as well as its restated 2010 annual report and report for the first quarter ended April 30, by no later than Sept. 13.