Depot Q1 profit up 12 per cent

26 April 2006 – Delray Beach (FL): Office Depot has posted a 12 per cent increase in Q1 earnings, citing strong sales in North America.

Income for the quarter rose to $129.5 million, or EPS of $0.43, from $115.3 million, or EPS of $0.37, the year before. Excluding restructuring costs and other items, earnings were $144 million or EPS of $0.48. Total sales were up 3 per cent to $3.82 billion, from $3.70 billion in 2005.

 

Revenue rose 5 per cent at its North American business to $1.79 billion with European same store sales up 4 per cent.