Office Depot swings to loss in Q3, but results beat Street
Boca Raton, Fla. -- Office Depot Inc. reported Tuesday a loss of $61.9 million for the third quarter, compared with net income of $100.9 million in the same period last year. Results still edged analysts’ expectations.
Revenue dropped 5.1% to $2.69 billion, missing Wall Street’s expected $2.89 billion revenue mark.
Revenue for the office supply chain has fallen for the past three quarters.