-
OfficeMax swings to loss in Q2, more closures planned
Naperville, Ill. -- OfficeMax reported Tuesday that it swung to a loss of $3.02 million in the quarter ended June 25, compared with net income of $11.8 million in the year-ago period.
Total sales dipped 0.3% to $1.648 billion from $1.653 billion, but beat Wall Street expectations of $1.63 billion. In the retail segment, sales decreased 0.7% to $767.3 million from $772.7 million. Same-store sales dipped 0.5%, but results were helped somewhat by stronger same-store sales in Mexico.
-
Coach posts 4% profit rise in Q4
New York City -- Coach reported Tuesday that net income for the fourth quarter rose 4% to $202.5 million, compared with $195.5 million in the year-ago period.
Revenue surged 9% to $1.03 billion, edging Wall Street estimates. Same-store sales rose 10.1% in North America.
Coach’s performance is in line with overall strength in the luxury category. During the recessionary onslaught, the company pushed sales of handbags priced under $300, but said its average retail price of handbags is now inching back up.