Office Depot Announces Second Quarter 2011 Results
Jul 27, 2011
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Business equipment retailer Office Depot (Boca Raton, FL, U.S.), had total company sales of $2.710 billion in its second quarter, ending June 25, 2011 – flat compared to $2.699 billion in the second quarter of 2010.
Computer sales in North American Office Depot stores slumped at the end of the second quarter of 2011. Overall 2Q 2011 sales in the North American Retail Division were $1.1 billion, down 2% compared to 2Q 2010. Same store sales, in the 1108 stores that have been open for more than one year, decreased 1% in 2Q 2011 compared to 2Q 2010. North American profits were about $3 million in 2Q 2011, down from about $9 million in 2Q 2010.
Second quarter 2011 sales in the North American Business Solutions Division were $803 million, down 2% compared to the prior year.
Office Depot announced recently that it is combining the North American Retail (NAR) and North American Business Solutions (BSD) divisions under the leadership of Kevin Peters, who will be president, North America.
In its International Division, 2Q 2011 sales were $827 million, an increase of 6% in U.S. dollars and a decrease of 5% in constant currencies compared to the prior year.
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