Hoffman Estates, Ill., Sears Holdings Corp. said Tuesday it will pay an undisclosed sum to Computer Sciences Corp. to settle a contract dispute between the companies.
Sears, Roebuck and Co. and El Segundo, Calif.-based Computer Sciences were in a contract dispute stemming from a 10-year information technology outsourcing agreement signed in May 2004.
The companies said they have amicably settled their differences. Computer Sciences doesn't expect to record an asset impairment charge related to the agreement.
Sears Holdings said it already had established a reserve for the expected settlement, so it doesn't expect the deal to materially affect its 2007 earnings or financial position.