Tonernews.com, July 30, 2005. USA
Depot posts Q2 profit hike
July 2005 – Delray Beach (FL): Office Depot has posted a whopping 26 per cent rise in its Q2 income.
The power played registered net earnings of $100 million, with EPS up 24 per cent to $0.31. Sales lifted 6 per cent to $3.4 billion, while North American retail comp sales rose 3 per cent.
It was not all good news for Depot, however, with a decline in gross margin at its international operation. Division operating profit, as a percentage of sales, fell from 12.9 per cent to 10 per cent.
Depot’s chairman and CEO Steve Odland said: “We are pleased with our overall performance this quarter.” But he added: “Our international operating results, however, did not keep pace with those of our North American divisions. Over time, we need to grow this business at a more rapid rate and deliver improved profitability.”
Its Free! Click Here to Share your Success Stories with Tonernews.com and We'll Publish it for You! The power played registered net earnings of $100 million, with EPS up 24 per cent to $0.31. Sales lifted 6 per cent to $3.4 billion, while North American retail comp sales rose 3 per cent.
It was not all good news for Depot, however, with a decline in gross margin at its international operation. Division operating profit, as a percentage of sales, fell from 12.9 per cent to 10 per cent.
Depot’s chairman and CEO Steve Odland said: “We are pleased with our overall performance this quarter.” But he added: “Our international operating results, however, did not keep pace with those of our North American divisions. Over time, we need to grow this business at a more rapid rate and deliver improved profitability.”