Office Depot 3Q sales down 7%

DELRAY BEACH, Fla. Office Depot reported that total sales for the third quarter decreased 7% to $3.7 billion.

The company reported a net loss of $7 million in the third quarter of 2008, compared to earnings of $117 million in the same period of 2007. The loss per share on a diluted basis was 2 cents for the quarter, versus earnings per share of 43 cents in the third quarter of 2007.

Third quarter sales in the North American Retail Division were $1.6 billion, down 11% compared to the same period last year. Comparable-store sales in the 1,203 stores in the U.S. and Canada that have been open for more than one year decreased 14% for the third quarter.