Domestic comps boost Depot profits

Boosted by strong North American retail sales, Office Depot has posted a rise in its Q4 profit.

Net income for the quarter reached $52.8 million, or EPS of $0.17, compared to $46.8 million, or EPS of $0.15, registered a year ago. Total sales grew 7 per cent to $3.5 billion, with global comp sales up 2 per cent.

Depot’s North American retail division performed particularly impressively in Q4, with same-store sales up 4 per cent.

Looking back over the past year, Chairman/CEO Neil Austrian said that although catalogue sales were "sluggish", 2004 was, "on balance, a good year for Office Depot".

Delray Beach (FL)