OFFICE-MAX POSTS A $25M LOSS

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OFFICE-MAX POSTS A $25M LOSS

 user 2006-05-01 at 9:58:00 am Views: 61
  • #15309

    ‘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

    WHAT NEWS MAKES MORE SENSE……… ?
    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