-
Office Depot profit doubles on one-time gains; adjusted results miss Street
Boca Raton, Fla. -- Office Depot's fiscal third-quarter net income more than doubled, but its adjusted results missed analysts’ expectations amid sales declines in North America.
The company earned $91.7 million for the period ended Sept. 24, compared with $32 million a year earlier. But excluding $6 million in restructuring charges and other costs and a $99 million tax benefit, the company lost about $700,000, or break-even per share.
-
It wasn’t supposed to be this way
More Americans were online in September, and traffic to such major retail sites as Amazon.com and Walmart.com increased, but Target.com traffic was flat in the first full month following a late August site relaunch, according to the most recent “Top 50 Web Properties” report from online measurement firm comScore.