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Saks to Further Probe Payments From Vendors

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From Associated Press

Saks Inc. said it was conducting a deeper internal probe into payments from its vendors at its Saks Fifth Avenue division.

The Birmingham, Ala.-based department store operator said its audit committee would review the timing of the recording of markdown allowances and whether suppliers were improperly charged for failure to comply with the company’s policies in logistics, billing or transportation.

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