Office Depot Income Rises 82%
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.
