Depot Q2 profit hike



Office Depot has posted a whopping 26 per cent rise in its Q2 income.


The power player registered net earnings of $100 million, with EPS up 24 per cent to $0.31. Sales lifted 6 per cent to $3.4 billion, while North American retail comp sales rose 3 per cent.


It was not all good news, however, with a decline in gross margin at its international operation. Division operating profit, as a percentage of sales, fell from 12.9 per cent to 10 per cent.


CEO Steve Odland said: "Our international operating results did not keep pace with those of our North American divisions Over time, we need to grow this business at a more rapid rate."