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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 26, 2001
PFSWEB, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 000-28275 75-2837058
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) Number)
500 NORTH CENTRAL EXPRESSWAY, PLANO, TX 75074
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (972) 881-2900
NONE
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
(a) Previous independent accountants
(i) On February 26, 2001, PFSweb, Inc. and Arthur
Andersen LLP terminated their client-auditor
relationship.
(ii) The reports of Arthur Andersen LLP on the financial
statements for the past two years contained no
adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope
or accounting principles.
(iii) The Audit Committee of the Board of Directors of the
Company approved the decision to change independent
accountants.
(iv) In connection with its audits for the two most recent
fiscal years and through February 26, 2001, there
have been no disagreements with Arthur Andersen LLP
on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to
the satisfaction of Arthur Andersen LLP, would have
caused them to make reference thereto in their report
on the financial statements for such years.
(v) During the two most recent fiscal years and through
February 26, 2001, there have been no reportable
events (as defined in Regulation S-K Item
304(a)(1)(v)).
(vi) The Company has requested that Arthur Andersen LLP
furnish it with a letter addressed to the Securities
and Exchange Commission stating whether or not it
agrees with the above statements. A copy of such
letter, dated March 2, 2001, is filed as Exhibit 16
hereto.
(b) New independent accountants
The Company appointed KPMG LLP as its new independent
accountants as of February 26, 2001.
Item 7. Exhibits
(c) Exhibits.
16. Letter from Arthur Andersen LLP to the Securities and
Exchange Commission regarding change in certifying
accountant.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PFSweb, INC.
Dated: March 2, 2001 By: /s/ THOMAS J. MADDEN
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Thomas J. Madden
Executive Vice President, Chief
Financial and Accounting Officer
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EXHIBIT INDEX
EXHIBIT
NUMBER EXHIBIT
- ------ -------
16 Letter from Arthur Andersen LLP to the Securities and Exchange
Commission regarding change in certifying accountant.