Office Depot Q2 Sales, Earnings Rise

Office products merchant Office Depot Inc. said July 28 that company sales for the second quarter ended July 1 grew 4 percent to$3.5 billion. Same-store sales rose 1 percent during the same period.

The Delray Beach, FL-based firm's net earnings for the quarter totaled $118 million, compared to $100 million in the same period last year. Diluted earnings per share were $0.41 in the second quarter of 2006 versus $0.31 in the same period a year ago.

The company's North American Retail Division had a 4 percent gain in second quarter sales compared to last year. Sales in the North American Business Solutions Division rose 6 percent while the International Division's sales increased 1 percent in U.S. dollars and 2 percent in local currencies.