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OfficeMax Q1 profits drop on store closing costs
NAPERVILLE, Ill. — Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011. Adjusting for these charges, net income for the quarter was $20.3 million, or 23 cents per diluted share, compared with $11.4 million, or 13 cents per diluted share for the same period last year.
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Nicole Richie to design latest Impulse collection for Macy's
NEW YORK — Macy's has partnered with fashion icon Nicole Richie (daughter of famed singer Lionel Richie) for an exclusive line for the company's Impulse division. Nicole Richie for Impulse will launch in 100 Macy's stores and at Macys.com in September and will feature apparel inspired by Richie's trendsetting personal style, including 1970s influenced silhouettes, prints and fabrications, the company said.