OfficeMax Posts Profit on Increase in Sales
Office supply retailer OfficeMax Inc. had its second quarterly profit this year after eight quarters of losses as it attracted more customers and increased sales.
OfficeMax had net income of $16.5 million, or 13 cents a share, contrasted with a net loss of $25.8 million, or 23 cents, a year earlier. Sales rose 5.8% to $1.26 billion, the company said.
Sales at stores open at least a year rose 7.7%, the most in five years. Shares of Shaker Heights, Ohio-based OfficeMax rose 31 cents to $5.60 on the NYSE.
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