Sales Dip for OfficeMax, Brookstone

Two multichannel merchants said yesterday they had declining sales for fiscal 2005.

OfficeMax, Itasca, IL, reported sales of $2.46 billion, down 8.7 percent from $2.7 billion in 2004. The office products company had a net loss of $73.8 million for 2005 as well as a fourth-quarter loss of $43.1 million.

OfficeMax totaled net income of $173.1 million for 2004, though this included the sale of Boise Building Solutions and Boise Paper Solutions, its paper, forest products and timberland assets.

The net loss for 2005 includes items that are not expected to be ongoing, the company said, such as expenses associated with the discontinuation of operations at its wood-polymer building materials facility. The 2005 result also includes the closure of 110 domestic retail stores in the fourth quarter.

Brookstone Inc., Merrimack, NH, reported total net sales of $440.6 million for the 48 weeks ended Dec. 31, 2005, down 4.4 percent from the 48 weeks ended Jan. 1, 2005. Same-store sales fell 8 percent for the period.

Net sales totaled $226.1 million for the 13 weeks ended Dec. 31, down 2.6 percent from the 13 weeks ended Jan. 1, 2005. Same-store sales dropped 7.6 percent.

Brookstone altered its fiscal year, so fiscal 2005 results cover Jan. 30 to Dec. 31, 2005.

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