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OfficeMax income beats expectations
NAPERVILLE, Ill. — OfficeMax reported 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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Claire's North American president resigns
CHICAGO — Claire's Stores announced that Jay Friedman, president of Claire's Stores North America, has resigned effective immediately. Claire's has commenced a search with the executive recruiting firm of Spencer Stuart to fill the open position. Until a replacement is appointed, James Fielding, Claire's CEO, will assume Mr. Friedman's duties.