Office Depot’s web sales grow 23% in Q1 while total sales remain flat
E-commerce sales at Office Depot Inc. grew 23% to $599.2 million in the first quarter from last year’s first quarter sales of $487.1 million, Office Depot reported today. Online sales are on track to reach $2.5 billion for the year vs. $2.1 billion last year, the company says.
Total Q1 sales grew 1% to $3.1 billion. Comparable store sales were off by 3%. E-commerce in Q1 represented 19.3% of all sales, up from 15.9% a year earlier.
Operating profit for the first quarter decreased by 1% to $161.3 million compared to the same period in 2002, primarily as a result of a 7% decline in comparable North American retail store sales, the company says.
The company also launched a Spanish language U.S. web site to reach the 2 million Hispanic-owned businesses in the United States. The site mirrors Office Depot’s English language site.
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