U.S. DOMESTIC SALES BOOST OFFICE DEPOT

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U.S. DOMESTIC SALES BOOST OFFICE DEPOT

 user 2005-02-14 at 9:33:00 am Views: 62
  • #10237

    Domestic comps boost Depot

    February 2005 – Delray Beach (FL): Boosted by strong North American
    retail sales, Office Depot has posted a rise in its Q4 profit.


    Net
    income for the quarter reached $52.8 million, or EPS of $0.17, compared to $46.8
    million, or EPS of $0.15, registered a year ago. Total sales grew 7 per cent to
    $3.5 billion, with global comp sales up 2 per cent.


    Depot’s North
    American retail division performed particularly impressively in Q4, with
    same-store sales up 4 per cent.


    Looking back over the past year,
    Chairman/CEO Neil Austrian said: “On balance, 2004 was a good year for Office
    Depot. We improved both the sales and profitability of North American retail.
    Profitability increased in the business services group, although sluggish
    catalogue sales held back our overall growth rate. International earnings grew
    over last year, but the sales contribution from the Guilbert acquisition fell
    short of our targets.”