In its second-largest acquisition, Amazon buys the company for $970 million.
Worldwide Internet sales at Office Depot grew 36% during the first quarter to $488.3 million while total revenue was flat. Web sales now account for 16.2% of Office Depot’s worldwide sales, up from 12% a year ago.
Worldwide Internet sales at Office Depot Inc. grew 36% during the first quarter, Office Depot reported today, reaching $488.3 million from $359.4 million in the first quarter of last year.
U.S. Internet sales grew 35% in the quarter; sales outside the U.S. grew 56%. Office Depot operates 16 public and corporate web sites in 10 countries.
Web sales now account for 16.2% of Office Depot’s worldwide sales, up from 12% a year ago. Companywide sales grew 1% in the quarter to $3 billion. Office Depot says it expects worldwide web-based sales to exceed $2 billion this year.
Total sales for the first quarter of 2002 increased 1% to $3.0 billion compared to the same period in 2001. Worldwide comparable sales in the 853 stores and 39 delivery centers open for more than a year declined 1% for the quarter. U.S. comparable store sales declined 1.7%.
The Company reported operating income of $163.9 million for the first quarter, an increase of 69% compared to operating income of $96.9 million reported for Q1 2001.