Office Less than Max this Holiday Season

OfficeMax Inc. (Itasca, Ill.) has reported weaker-than-expected retail sales and gross margins during the 2004 Thanksgiving-to-Christmas holiday season have been weaker than expected. As a result, it now warns that its fourth quarter same-store sales are expected to be nearly flat and its 2004 operating income less than previously forecast.

“Although we exceeded our expectations for the very promotional Thanksgiving Day weekend, overall holiday season sales in OfficeMax Retail have been sluggish due to lower traffic,” said president and ceo Chris Milliken.