Office Depot’s web sales continue their steady climb

Worldwide Internet sales at Office Depot Inc. grew 38% to $498 million during the second quarter and by 37% to $987 million in the first six months of 2002, the company reported today. Office Depot says it expects to exceed $2 billion in e-commerce revenue in this year.

Companywide sales for the second quarter grew 4% to $2.6 billion vs. second quarter of 2001. For the first six months of the year, sales grew 2% to $5.7 billion from the first half of 2001. Web sales in the first half accounted for 17% of Office Depot’s sales vs. 13% a year ago.

Worldwide comparable sales in the 847 stores and 39 delivery centers that have been open for more than one year were flat for the second quarter, and declined 1% for the first half of 2002.

Operating income for the second quarter increased 15% to $92.7 million compared to the same period in 2001.