Timing is everything…

June 1, 2004

It’s always interesting to see which companies choose to file late on a Friday before a big holiday weekend like Memorial Day. While It doesn’t always mean that the company is trying to hide something negative or perhaps controversial, there’s clearly a hope that investor’s attention will be focused elsewhere. Take Petco (PETC) , the large pet supply chain which filed its Q late on Friday afternoon. In the Q, the company disclosed that it had agreed to pay $650,000 as part of a settlement with several District Attorneys in California over over-charging customers and had reached another settlement with San Francisco officials over mistreatment of animals, a two year-old controversy that has prompted a boycott by animal-rights activists. Several other well-known companies also filed late on Friday, including Bed, Bath & Beyond (BBBY) and Electronic Arts (ERTS) , which both filed proxies, and Gap Stores (GPS) and restaurant chain O’Charley’s (CHUX), which filed their Qs. Is there anything interesting hiding in those filings? I don’t know, since I haven’t had a chance to read them. But if I were a betting woman, I’d bet that it’s more than likely investors may find something interesting buried there.

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