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Office Depot Falls Again 4.7% -Warns and Warns Run For The Hills We Say

Top Quote Office Depot has already posted a major loss and closed many stores as small businesses went broke during the recession of 2008-2009 and bank are not lending, which means slow business especially over in Europe now. End Quote
  • (1888PressRelease) May 14, 2010 - Office Depot saw sales fall 4.7% to $3.1bn (1.9bn) during the three months to March 27, 2010. Operating profit came in at $56m (36m), compared with a loss of $60m (39m) in the first quarter of 2009.

    Net profit was $29m (19m), an improvement on the $55m (36m) loss in the same quarter a year earlier.

    "Our first quarter operating results exceeded our expectations, due primarily to a stronger than anticipated performance for the second consecutive quarter by our international division," said chief executive Mike Newman

    Mike Newman should have said, our company keeps loosing the sales war and if Staples can warn a possible loss, as we seen online, then whats going to happen to Office Depot on Next Report.

    We see $2.68 a share in 6-9 months, as our opinion. We shorted the stock at $7 Odp 2,000 shares and are cash free holding on http://www.businescapitaloans.com our stories and buys and sell.

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