- 3 -
the affiliated group, and it filed the petition on behalf of all
eligible members of the group pursuant to section 1.1502-77,
Income Tax Regs. At the time the petition was filed, American
Stores, a Delaware corporation, maintained its mailing address
and principal office at 709 East South Temple, Salt Lake City,
Utah. Petitioner files its income tax returns on the basis of a
52-53-week fiscal year ending on the Saturday nearest to each
January 31. Petitioner prepared and filed the consolidated
income tax returns for its 1989 and 1990 tax years using the
accrual method of accounting.
By January 28, 1989, American Stores and its subsidiaries
operated approximately 1,917 retail units in 39 States. During
the 1989 and 1990 tax years, petitioner principally engaged in
the retail sale of food and drug merchandise. Petitioner is one
of the nation’s leading retailers, operating combination
drug/food stores, super drug centers, drug stores, and food
stores. Petitioner sells both food and nonfood merchandise such
as prescription drugs, tobacco products, housewares, health and
beauty aids, and sundry merchandise for home and family use.
Petitioner maintains a substantial inventory for its various
retail grocery and drug stores throughout the nation.
Prior to its acquisition of Lucky Stores, Inc. (Lucky
Stores), petitioner conducted its activities through American
Stores’ wholly owned subsidiaries: American Super Stores, Inc.,
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011