Valspar to Record Earnings Charge Related to Service Contracts
MINNEAPOLIS - The Valspar Corp. said it will record an after-tax charge of $15.2 million in the company's fourth quarter for costs associated with estimated future service claims related to its furniture-protection plans, which are sold through U.S. furniture retailers.
The company's fourth quarter ended Oct. 31. The furniture protection plans are service contracts for furniture repair offered at the retail level.