July 30 Office Depot Inc reported on
Tuesday a quarterly loss in line with analyst expectations, as
tight cost controls helped offset weak sales at the
second-largest U.S. office supply retailer.
The news came as the company awaits regulatory approval for
its deal to buy smaller rival OfficeMax Inc.
In the second quarter, Office Depot's net loss after
preferred stock dividends was $64.4 million, or 23 cents a
share, compared with $64.3 million, or 23 cents a share, a year
Excluding merger-related expenses and charges related to
restructuring and impairment, the loss was 10 cents a share, in
line with analyst expectations, according to Thomson Reuters
Lackluster demand for laptops and belt-tightening by its
federal customers hurt sales, which fell 4 percent to $2.42
billion, while analysts had expected $2.43 billion.