UPDATE: Office Depot Q3 Sales Down 5%

Office Depot

posted a loss in the third quarter. Office Depot posted a quarterly loss of $69.6 million, or $0.25 per share, versus a year-ago profit of $91.7 million, or $0.28 per share. Excluding charges, its adjusted earnings after preferred stock dividends came in at $0.06 per share. Its sales dropped 5% to $2.69 billion from $2.84 billion. However, analysts were expecting earnings of $0.01 per share on sales of $2.73 billion. Office Depot shares closed at $2.51 yesterday.