Office products retailer Office Depot Inc. said Thursday its profits dipped 8 percent in the second quarter as weak sales in North America offset double-digit growth in international revenues.
Net income fell to $109.1 million, or 40 cents per share, from $118.3 million, or 41 cents per share, a year ago. Sales rose to $3.63 billion from $3.49 billion a year earlier.
Excluding charges, the company earned 43 cents per share in the most recent quarter. That met the average estimate of analysts polled by Thomson Financial, though the company missed the anticipated sales target of $3.69 billion. Read more
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Net income fell to $109.1 million, or 40 cents per share, from $118.3 million, or 41 cents per share, a year ago. Sales rose to $3.63 billion from $3.49 billion a year earlier.
Excluding charges, the company earned 43 cents per share in the most recent quarter. That met the average estimate of analysts polled by Thomson Financial, though the company missed the anticipated sales target of $3.69 billion. Read more
More...