‘Max posts wider loss after store closures

27 April 2006 – Itasca (IL): OfficeMax has reported a wide Q1 loss citing costs from closing more than 100 stores.
 
The company posted a loss of $25.1 million, or $0.37 per share, compared to a loss of $5.3 million or $0.07 per share, a year earlier. Excluding store closure costs and other items, adjusted profit was $55.7 million, or EPS of $0.77. Sales rose slightly to $2.42 billion, up 4 per cent from $2.32 billion in 2005. Contract sales rose 10 per cent to $1.23 billion.