Office Depot Boosts Sales, Buys South Korean Firm

Share this article:
Office Depot Inc.'s sales increased 7 percent for the fourth quarter ended Dec. 31, totaling $3.7 billion. The Delray Beach, FL, multichannel marketer of office products also said yesterday that it acquired a controlling interest in Best Office, a South Korean office supply company.


Sales in the North American Retail Division increased 15 percent, and comparable-store sales in the United States and Canada rose 5 percent. The North American Business Solutions Division generated an 11 percent increase in sales, but international sales decreased 8 percent. Net earnings for the period totaled $106 million compared with $52 million in the previous year.


Sales for the year totaled $14.3 billion, a 5 percent increase over the prior year. Same-store sales in the North American Retail Division rose 3 percent for the year. Net earnings totaled $274 million.


Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

News Byte: Comcast Expanding Global Ad Delivery Through Partnership

News Byte: Comcast Expanding Global Ad Delivery Through ...

Through a partnership with Adstream , Comcast's AdDelivery Service expands its footprint across the globe.

40 Under 40 2014: Nominations Are Now Open!

40 Under 40 2014: Nominations Are Now Open!

It's time to nominate the 2014 crop of young marketing luminaries for Direct Marketing News's 40 Under 40 Awards. The deadline is Friday, June 6, 2014.

News Byte: MediaCrossing Partners with ASL Marketing on Youth Marketing Tool

News Byte: MediaCrossing Partners with ASL Marketing on ...

The digital media trading firm and marketing database company aim to help marketers target 13 to 34 year olds.