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Office Depot and OfficeMax merger can’t happen soon enough
Weak second-quarter financial results from Office Depot offered the latest evidence of the strategic rationale underpinning the company’s pending merger with longtime rival OfficeMax.
Office Depot said sales in the second quarter ended June 29 declined 4% to roughly $2.4 billion and it posted a net loss of $64 million, or 23 cents a share, equal to a loss reported in the second quarter the prior year.
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Coach Q4 profit drops 12%; announces exec shake-up
New York -- Coach Inc. on Tuesday reported a 12% drop in net income in its fourth quarter amid weaker same-store sales in North America, and also said it would sell its Reed Krakoff business to a group led by Reed Krakoff, who will depart the company as executive creative director when the deal is completed.