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OfficeMax swings to profit in Q2
Naperville, Ill. -- Office Max Inc. reported Thursday net income of $10.7 million for the second quarter, besting Wall Street predictions and representing a strong turnaround from last year’s $3 million loss stemming from store closures and severance expenses.
Revenue for the quarter slipped 2.7% to $1.6 billion, missing analysts’ forecasted $1.64 billion in revenue. The office supply retailer said it will reinstate its quarterly common stock dividend, which it suspended more than three years ago.
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Big Five Q2 profit tops Street
El Segundo, Calif. -- Big 5 Sporting Goods Corp.'s quarterly profit beat Wall Street estimates, fueled by strong sales of apparel and footwear.
For the second quarter, ended July 1, the company posted net income of $2.6 million.
Sales rose 4% to $226.6 million, narrowly missing Wall Street estimates of $227.4 million, which the company attributed to July 4th-related sales shifting to the third quarter. Same-store sales increased 1.0%.