Office Depot Reports “Sluggish” Catalog Sales
Delray Beach, FL-based superstore retailer Office Depot (NYSE: ODP), which mails the Viking Office Products, Office Depot, and Tech Depot catalogs, reported sluggish catalog sales for 2004.
Though total fourth-quarter direct sales were up from the previous year, annual direct sales were flat, with growth from the Tech Depot brand offsetting an decline among the other titles. Domestic Web sales grew 11% during the quarter, however, and 12% for the full year.
The company also reported improved profitability in the Business Services Group, although again sluggish catalog sales depressed the overall growth rate.
Total fourth-quarter revenue was $3.5 billion, up from $3.3 billion for the fourth quarter of 2003. Fourth-quarter net earnings hit $52.8 million, up from $45.8 million.
Companywide annual sales grew 10%, to $13.6 billion. Net earnings jumped to $338.2 million from $276.3 million.
Collegiate Pacific in the Black
Dallas-based Collegiate Pacific (Amex: BOO), which sells sports equipment and uniforms to schools and institutional buyers, posted net sales of $23.8 million for the three months ended Dec. 31. That’s up 461% from the comparable quarter of 2003, thanks primarily to several dealerships the company bought during the year. Operating profit reached $1. 2 million, compared with a loss of $305,000 12 months prior. Net income was $581,000, a turnaround from a net loss of $203,000.