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Depot doubles Q4 profit
February
2006 – Delray Beach (FL): Office Depot has said its Q4 profit doubled
following lower costs and stronG North American sales.
The
company reported net income of $106.3 million, or EPS of $0.34, up from
$52.1 million, or an EPS of $0.17 cents per share, a year earlier.
Revenue
grew 7 percent to $3.72 billion from $3.47 billion. CEO Steve Odland
said he was pleased with the ovall performance of North America in Q4
as the retail division recorded its eighth consecutive quarter of
positive comp sales. However he added that “given the strong impact of
the holiday season on this comp, we would caution people not to expect
this level of performance going forward”. In regard to Depot’s
international business, Odland said results were “still not where we
would like them to be”
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