OFFICE-MAX POSTS A $25M LOSS

[Anonymous]

‘Max posts wider loss after store closures
MAI 2006 – Itasca (IL): OfficeMax has reported a wide Q1 loss citing costs from closing more than 100 stores.
The
company posted a loss of $25.1 million, or $0.37 per share, compared to
a loss of $5.3 million or $0.07 per share, a year earlier. Excluding
store closure costs and other items, adjusted profit was $55.7 million,
or EPS of $0.77. Sales rose slightly to $2.42 billion, up 4 per cent
from $2.32 billion in 2005. Contract sales rose 10 per cent to $1.23
billion

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TOP OR BOTTOM ?

‘Max shares see surge
MAI
2006 – Itasca (IL): Shares at OfficeMax were at six-year highs
yesterday, gaining as much as 17 per cent as the retailer turned in a
Q1 profit of $55.7 million excluding store closure and other items,
compared with $17.7 million last year.
Including the costs from the
closure of more than 100 stores, OfficeMax posted a loss of $25.1
million, or $0.37 per share, compared to a loss of $5.3 million, or
$0.07 per share, a year earlier.
Shares closed at $38.49 on the NYSE after rising to $39.15 earlier in the session

[Author]

May 1, 2006 at 9:58 AM