San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Boca Raton, Fla. — Office Depot reported lower sales and a net loss of $17 million in the first quarter, ended March 30.
Sales were $2.7 billion, down 5 percent compared with the first quarter of 2012 in both U.S. dollars and in constant currency. Sales in the quarter were negatively impacted by approximately $58 million compared with the prior year due to a shift in the timing of the New Year and Easter holidays.
Office Depot had a net loss of $17 million compared with net earnings, after preferred stock dividends, of $41 million in the first quarter of 2012.
New York — The planned merger of office-supply chains OfficeMax and Office Depot remains on schedule, with the two retailers filing federal regulatory forms and forming transition committees.
In a joint update, the companies said they still expect the merger to close by year’s end, the original target date.
Boca Raton, Fla. — Office Depot lost $17 million in the fourth quarter as sales sank 12 percent to $2.6 billion.
The results underscored the impetus for a merger with channel rival OfficeMax, which was announced separately this morning.
Net sales were $2.6 billion for the three months, ended Dec. 29, 2012, and the loss compares with year-ago net profits of $12 million.
Naperville, Ill. – Office Depot and OfficeMax have agreed to merge.
Pending stockholder and regulatory approval, the No. 2 and 3 office-supply chains will combine by the end of the year into a new, $18 billion entity that is better able to compete in an increasingly competitive marketplace, the companies said.
New York — Office Depot and OfficeMax, the No. 2 and 3 office-supply chains, are far along in merger talks and may announce a deal this week, according to published reports.
A merger, long urged by analysts, could create a stronger challenger to channel leader Staples, although all three chains have lost ground to online and discount competitors like Costco and Walmart.
Boca Raton, Fla. – Office Depot reported lower net sales and a net loss in its fiscal third quarter, ended Sept. 29.
Sales were down 5 percent year on year to $2.7 billion. The net loss was $70 million, compared with net earnings of $92 million in the prior year’s third quarter.
In its North American retail division, third quarter sales were $1.2 billion, a decrease of 5 percent compared with the prior year.