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Office Depot Announces Second Quarter Results; Appoints Two Executive Officers Jul 27, 2007 |
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Office Depot, Inc. announced second quarter results for the fiscal period ended June 30, 2007. Total company second quarter sales grew 4% to US$3.6 billion compared to the second quarter of 2006. Sales growth in North America was flat in the second quarter, down from 3% in the first quarter. North American Retail sales grew 1% with comparable store sales down 5% for the quarter. International sales increased 14% in U.S. dollars and 7% in local currencies.
The company also announced the appointment of two new members to its executive committee.
Steven M. Schmidt joined the company as the President, North American Business Solutions Division, succeeding Cindy Campbell, who will continue as an Executive Vice President until her planned retirement in March 2008.
Elisa D. Garcia C. joined the company as Executive Vice President, General Counsel & Corporate Secretary. She succeeds David Fannin, who has served as General Counsel since 1998 and who will remain an Executive Vice President until his long-planned retirement at the end of 2008.