Acquisitions and Financials

 

Dell is forecasting growth of nearly 20 percent this year in PC and notebook shipments in Asia, excluding China, Japan and South Korea. Dell has also announced plans to expand its market channels in the region by selling products to consumers via retailers and other distributors rather than sticking to its original direct- to-consumer method, which involved online and telephone sales. Singapore (SGP)

 

Office Depot has warned that its Q2 retail like-for-like sales will fall between four and five percent, blamed on "soft economic conditions". In a filing to the Securities and Exchange Commission, the retailer said that the softening economy was beginning to take hold during Q1 and has continued into Q2. Depot’s North American business solutions division has also been affected by the weakening of the economy. Delray Beach (FL)

 

Corporate Express‘ (CE) executive board expects to complete a comprehensive strategic review within the next three months.The purpose of this review, commenced in March, is "to provide insight in how the company’s full potential can be achieved in order to find the best way forward to build shareholder value". CE says the review will also address market dynamics such as competition and opportunities for growth. Amsterdam (NL)

 

Steelcase has reported Q1 net income of $33.6 million, or EPS of $0.23, up from $18.2 million, or EPS of $0.12, a year ago. Revenue for the quarter was $808.5 million, an 11 percent increase from $727.3 million in 2006. Steelcase has attributed its strong performance to increased sales and operational improvements. Steelcase UK’s turnover for the last year rose by 10 percent, exceeding £40 million ($80 million). Grand Rapids (MI)

 

Lyreco has acquired a minority stake in Cairo-based OP reseller Speed Send, after a two-year partnership with the company. Throuh the acquisition, Speed Send will add to its competitive advantages in the Egyptian market by benefiting from Lyreco’s experience of the international office supplies market. Through this share acquisition, Lyreco will enter the Egyptian market, which is currently undergoing massive expansion. Cairo (EG)

 

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