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Article: Office Depot Announces Second Quarter Results.
- Article from:
- Business Wire
- Article date:
- July 30, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DELRAY BEACH, Fla. -- Office Depot, Inc. (NYSE:ODP), a leading global provider of office products and services, today announced results for the fiscal period ending June 28, 2008.
Second Quarter Results (1)
Total Company sales for the second quarter decreased 1% to $3.6 billion. Total Company operating expenses, adjusted for Charges, represented 26.9% of sales, an increase of 110 basis points over the second quarter of 2007. EBIT, as adjusted, was $21 million in the second quarter of 2008 or 0.6% as a percentage of sales, compared to $170 million or 4.7% in the prior-year period.
The Company reported a net loss of $2 million in the second ...