-
OfficeMax Q1 profits drop on store closing costs
NAPERVILLE, Ill. — Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011. Adjusting for these charges, net income for the quarter was $20.3 million, or 23 cents per diluted share, compared with $11.4 million, or 13 cents per diluted share for the same period last year.
-
OfficeMax Q1 profit plummets, to close 35 stores
Naperville, Ill. -- OfficeMax Inc. reported Tuesday that net income for the quarter ended March 31 slid to $4.9 million, compared with $11.4 million in the year-ago period. Results were hampered by charges related to U.S. store closures.
Total sales edged up 0.5% to $1.9 billion. In the retail segment, sales dipped 2.7% to $912.3 million; same-stores sales fell 2.1%.