DELRAY BEACH, Fla. -- Office supply retailer Office Depot says its fiscal first-quarter profit fell 55 percent due to North American sales declines, but results still managed to top Wall Street's expectations.
The Delray Beach, Fla.-based company said Tuesday its earnings slipped to $68.8 million, or 25 cents per share, compared with $153.8 million, or 55 cents per share, a year earlier.
Office Depot reports sales dipped 3 percent to $3.96 billion from $4.09 billion.
Analysts surveyed by Thomson Financial forecast a profit of 22 cents per share on revenue of $4.07 billion.
© 2008 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.
|
