Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
OfficeMax.com sales jumped to $118.1 million for the year and $35.7 million for Q4 2000.
OfficeMax said fiscal 2000 full-year sales for its Internet site, OfficeMax.com, increased 192% to $118.1 million from fiscal 1999 sales of $40.4 million. This segment reported better than expected operating results with a loss of $24.9 million, compared with a loss of $3.9 million for fiscal 1999. The OfficeMax.com segment results reflect the costs of accelerated and aggressive marketing throughout the year necessary to establish the OfficeMax.com brand with its target small business customer. Fourth quarter sales for OfficeMax.com increased 79% to $35.7 million over fourth quarter 1999 sales of $20 million and operating results for the segment were a loss of $7.5 million, compared with a loss of $600,000 for the same period in fiscal 1999.