Office Depot Income Rises 82%

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Office Depot Inc.'s first-quarter net income skyrocketed 82 percent to $102.7 million from the previous first-quarter's $56.3 million, the company reported yesterday.


Sales increased to $3.04 billion from $3.02 billion while same-store sales fell 1 percent.


First-quarter online sales rose 36 percent to $488.3 million, as domestic e-commerce sales improved 35 percent and international e-commerce sales increased 56 percent.


Delray Beach, FL-based Office Depot said that it is on track to exceed $2 billion in worldwide e-commerce sales this year.


First-quarter North American retail sales were $1.62 billion, up from $1.61 billion last year. Same-store sales for the company's 820 domestic stores dropped 1.7 percent.


International retail sales were $426.8 million, compared with $426.6 million last year.


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