Office Depot’s Q3 online sales grow 24%, nearly twice as fast as all sales
Worldwide online sales in the third quarter at Office Depot Inc. grew 24% to $672.1 million from the third quarter a year ago, the company reports. Total sales in the third quarter were up 13% to $3.2 billion. Online sales accounted for 21% of all sales in the quarter vs. 19.1% a year ago.
In the first nine months, worldwide e-commerce sales grew 23% to $1.9 billion from the first nine months of 2002, while total sales were up 7% to $9.1 billion. Online sales accounted for 20.9% of all sales in the first nine months vs. 18.1% a year ago.
Comparable store sales were down 1% for the quarter and 2% for the nine months.
Office Depot reported operating profit for the third quarter 2003 at $141.5 million vs. $142.1 million in the third quarter of 2002. For the first nine months of 2003, operating profit was $384.5 million compared to $397.8 million in the same period in 2002.
Office Depot is projecting $2.5 billion in online sales this year vs. $2.1 billion last year, which would represent 19% growth for the entire year.
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