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Office Depot Reports 1Q Sales Decline
Apr 30, 2008
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Retailer Office Depot Inc. said its first-quarter profit dropped 55% due to North American sales declines. The company said earnings dropped to $68.8 million, compared with $153.8 million a year earlier.Sales fell 3% to $3.96 billion from $4.09 billion.First-quarter sales for the North American business solutions division were $1.1 billion, down 5% compared to the same period a year ago. The company’s international division reported a sales increase of 6% in the first quarter of 2008 compared with the same period last year.

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