Office Depot loss widens in second quarter
Boca Raton, Fla. -- Office Depot reported Tuesday that it loss widened to $29 million in the second quarter, compared with a loss of $25 million in the year-ago period.
Sales were essentially flat in the quarter, at $2.7 billion. By division, total sales dipped 2% in the North American retail division to $1.1 billion, and same-store sales decreased 1%. During the second quarter of 2011, the division closed 14 stores, opened four stores and relocated four stores, bringing the total count for North America retail to 1,131 stores.
The international division fared better, with sales growing 6% in U.S. dollars to $827 million.