Content about Stemming

August 2, 2012

Office Max Inc. reported net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.

Naperville, Ill. -- Office Max Inc. reported Thursday net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.
 
Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.