OFFICEMAX Q3 SALES FALL 12%

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OFFICEMAX Q3 SALES FALL 12%

 user 2009-10-30 at 12:35:28 pm Views: 46
  • #22847

    http://www.reuters.com/article/companyNewsAndPR/idUSN2832760420091029
    OFFICEMAX Q3 SALES FALL 12%
    -OfficeMax profit misses views; 4th-qtr loss seen
    NEW YORK, Oct 09- OfficeMax Inc reported a weaker-than-expected quarterly profit as the No. 3 U.S. office products retailer’s sales suffered in the recession, and it forecast an operating loss in the current quarter.OfficeMax said net income was $5.7 million, or 7 cents a share in the third quarter, compared with a year-earlier net loss of $432.7 million, or $5.70 a share.Excluding one-time items, the retailer earned 8 cents a share, missing the analysts’ average forecast of 14 cents, according to Thomson Reuters I/B/E/S.

    Sales fell 12.6 percent to $1.83 billion.
    Office supply sellers have struggled with softer sales as consumers and small businesses curtail spending, especially on expensive items like furniture and computers.