MINNEAPOLIS — Nash Finch Co. here on Friday said is would record a significant writedown of goodwill in its retail segment following "soft" fourth-quarter sales.
"There is approximately $69.9 million of retail goodwill on the company's balance sheet and subject to the completion of appraisals that are underway, the company expects that a significant portion will likely be written off," Nash Finch said in a statement.
Nash Finch also said Friday that quarterly EBITDA results would come in below the same period a year ago, when adjusted for the 53rd week in the 2008 fiscal year.
Nash Finch will report results for the quarter, which ended Jan. 3, on March 4. Nash Finch stock was down 7% Friday after the announcement.
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