Headlines

Office Depot Q3 Earnings

Sales decrease, operating income increases

Published

8 years ago

November 5, 2015

Office Depot (Boca Raton, Fla.) reported its third-quarter earnings.

During that time, which ended Sept. 26, the company experienced a decrease in sales, including a total quarterly drop in sales from $4.07 billion to $3.69 billion. North American sales decreased from $1.7 billion last year to $1.6 billion.

The retailer also experienced higher operating income, which was, in part, due to store closures that contributed to savings and reduced costs such as payroll. By the end of the year, it will have closed about 180 stores, and it plans to close more than 50 additional stores in 2016.

The company plans to close its merger with Staples (Framingham, Mass.) by early 2016 if not by the end of 2015, reports Sun Sentinel.

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