*NEWS*OFFICE DEPOT’S 3Q.SALES RISE 13% !

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*NEWS*OFFICE DEPOT’S 3Q.SALES RISE 13% !

 user 2003-10-20 at 10:40:00 am Views: 83
  • #7794
    Office Depot’s Q3 earns, sales rise
    Office Depot reported third-quarter net earnings of $91.7 million, or 29 cents a share, up from 28 cents a share in the year-earlier period, and a penny a share better than the average analyst estimate compiled by Reuters Research. Sales rose 13 percent to $3.24 billion. The office supply retailer said sales improved at its international and North American business services divisions, but comparable-store sales at its North American retail businesses continued to be slightly negative, as its technology business continues to be below expectations. Looking ahead, the company said it may need to record charges related to the replacement of a warehouse and distribution facility in the U.K. and to increase reserves for certain lease obligations.