Office Depot reports 4Q loss

BOCA RATON, Fla. Office Depot announced that total company sales for the fourth quarter decreased 15% to $3.3 billion. The company reported a net loss of $1.54 billion in the fourth quarter of 2008, compared to earnings of $19 million in the same period of 2007. The loss per share on a diluted basis was $5.64 for the quarter, versus earnings per share of 7 cents in the fourth quarter of 2007.

Fourth quarter 2008 sales in the North American retail division were $1.4 billion, down 17% compared to the same period last year. Comparable-store sales decreased 18% for the fourth quarter.

During the fourth quarter, Office Depot opened two new stores, closed 10, and relocated one store, bringing the total store count to 1,267.