Financial Reports: Office Depot, Zones, J. Jill

2Q Growth for Office Depot

Although second-quarter catalog sales at Office Depot (NYSE: ODP) declined, the Delray Beach, FL-based cataloger/retailer nonetheless posted a 7% rise in overall revenue. For the three months ended June 28, the company, which includes cataloger Viking Office Products, had sales of $2.82 billion. Net income grew nearly 5%, to $59.6 million from $56.9 million for the second quarter of 2002.

Zones Posts 2Q Loss Top-line growth wasn’t enough to stave off the red ink at computer reseller Zones (Nasdaq: ZONS). For the three months ended June 30, the Redmond, WA-based cataloger lost $125,000 on sales of $119.1 million. Lawyer fees associated with the company’s evaluation of a proposal to go private accounted for the loss. For the second quarter of last year, Zones had netted $373,000 on sales of $107.8 million.

Another “Volatile” Quarter for J. Jill New stores accounted for the 13% rise in second-quarter sales for J. Jill Group (Nasdaq: JILL). But second-quarter direct sales for the cataloger/retailer of women’s apparel fell to $54.5 million from $56.0 million a year ago. Total net sales for the quarter were $97.4 million, compared with $86.4 million for the second quarter of 2002. Net income dipped to $6.1 million from $6.4 million.

“Although we are pleased to have achieved bottom-line results in line with current expectations our business faces significant challenges from a top-line perspective,” president/CEO Gordon Cooke said in a statement. “Not only has our top-line performance fallen short of expectations, it continues to be highly volatile – making forecasting very difficult.”

Cooke also said that the Hingham, MA-based company was “merging” its direct and retail divisions, and he warned that it might post a loss in the third quarter.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.