UPDATE: Office Depot Q3 Sales Down 5%
Office Depot (NYSE: ODP) 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.
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