Office Depot sees international profit growth

Portland, Ore. Office Depot affirmed that it expects operating profit for its international division will rise in 2010 over last year's results.

The company also said in a regulatory filing that overseas operating profit should be higher in the first half of this year than in the same period in 2009.

In April, Office Depot reported first-quarter results that missed Wall Street expectations and forecast an operating loss in the second quarter. The company has been undergoing a restructuring as it deals with weak sales in the United States, brought on by the recession.

Quarterly international sales rose 2% to $894 million, though fell 5% in local currency.

The office-products sector as a whole has been pressured as both consumers and small businesses cut back on non-necessities but there have been signs that that is easing.