Office Depot posts rise in quarterly profit
| Reuters
(Adds details, analyst estimate, CEO comment)
NEW YORK, April 26 (Reuters) - Office Depot Inc. (ODP.N: Quote (Related) , Profile (Related) , Research (Related) ),
the world's No. 2 office-supplies retailer, on Thursday said
its quarterly profit rose, helped by higher sales at its
international division.
First quarter net income rose to $156 million, or 56 cents
a share, up from $130 million, or 43 cents a share a year
earlier.
Excluding charges, Office Depot said its quarterly income
totaled $168 million, or 60 cents a share.
On that basis, analysts on average, were expecting 59 cents
a share, according to Reuters Estimates.
The Delray Beach, Florida-based company, which operates
nearly 1,200 retail stores in the United States and Canada,
said quarterly sales rose 7.1 percent, to $4.1 billion, falling
short of the average Reuters estimate of $4.2 billion.
The company said comparable-store sales at stores open at
least a year declined 3 percent in the U.S. and Canada for the
quarter due to lower sales of personal computers.
Office Depot attributed the decline to the launch of
Microsoft Corp.'s (MSFT.O: Quote (Related) , Profile (Related) , Research (Related) ) Windows Vista operating system and
lower sales of office furniture. Continued... (Related)
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