Industry News | November 11, 2002
AFC Reports Amounts for Write Downs on Coffee Chain
After a last minute delay in reporting period earnings last week due to accounting write offs at its Seattle’s Best Coffee chain, AFC Enterprises (NasdaqNM:AFCE) has reported that it will take $1.5 million in related after-tax charges.
Reuters is reporting the write-offs to be $1.3 million in inventory write-downs and $200,000 in impairments on improvements to the former Seattle’s Best headquarters building.
AFC plans to report the charges as part of its third quarter earnings announcement planned for Tuesday.
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