Sales Up Slightly at Office Depot

Delray Beach, FL-based office products Office Depot (NYSE:ODP), parent of the Viking Office Products catalog, reported that its strong retail performance in the U.S. and Canada was offset slightly by its business services and overseas operations.

Total revenue increased 2% to $3.7 billion for the quarter ended March 26, compared with $3.61 billion for the period last year. Net income was essentially flat at $115.3 million, compared with $114.9 million last year.

Sales in its business services group, which includes the Viking Office Products catalog business, increased 2% to $1.05 billion, from $1.03 billion in sales last year. Increased sales in its Contract, Office Depot Direct, and Tech Depot units contributed for the growth.

Comparable store sales increased 1% and overall retail sales in North America increased 6% to $1.7 billion. Improvement in gross margins across most product categories were offset by an increased sales mix of lower margin technology products, while cost containment reduced store and warehouse operating expenses, the company said.

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