Office Depot Inc.’s sales for the first quarter grew by 1% to $3.1 billion compared to the first quarter of 2002.
Worldwide comparable sales in the 885 stores and 39 delivery centers open for more than a year declined by 3% during the quarter. Operating profit for the quarter decreased by 1% to $161.3 million compared to the same period in 2002, primarily as a result of a 7% decline in the company’s North American retail stores.
In a statement, Bruce Nelson, Office Depot’s Chairman & CEO, said that domestic commercial catalog operations continued to be soft.
The company reported global e-commerce sales of $599.2 million in the first quarter, an increase of 23% over the same period last year and on track to reach $2.5 billion for the year.
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