2Q Sales Up, Income Up for Office Depot

Second-quarter sales for Delray Beach, FL-based Office Depot increased 4%, to $3.5 billion for the three months ended July 1. Net earnings for the quarter were $118 million, up from $100 million for the second quarter of last year. Sales for Office Depot’s North American Business Solutions division, which includes catalogs, rose 6%, to $1.12 billion, due to growth in key product areas and average order values.

In the second quarter the company completed its acquisition of Clifton, NJ-based Allied Office Products, the largest privately held office products company in the U.S. Allied has annual revenue of more than $300 million and operates 15 sales offices from New York to California. It sells primarily through its roughly 300 account executives and offers online procurement. Second-quarter sales in the North American Retail Division increased 4%, to $1.5 billion.

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