Office Depot CEO steps down; Q3 sales fall
Office Depot CEO steps down; Q3 sales fall
Post by (ugg boots gnstig) Oct 2010
(Reuters) - Office Depot Inc (ODP.N) said Steve Odland will step down as the office supplies retailer's chief executive and chairman next week and will be succeeded on an interim basis by a company director.
The company's shares were up 22 cents, or 4.8 percent, to $4.85 in premarket trading.
Odland, the company and a former Office Depot executive last week agreed to collectively pay more than $1 million to settle U.S. Securities and Exchange Commission charges of improper disclosures.
Office Depot also announced preliminary third-quarter results on Monday. It said it expects to report sales of $2.9 billion for the quarter, ended on September 25, down 4 percent from a year earlier.
Analysts, on average, are expecting $2.95 billion, according to Thomson Reuters I/B/E/S.
Office Depot said it expects to report net income of $54 million, or 18 cents per share, compared with a loss of $413 million, or $1.51 per share, a year earlier.
Excluding one-time items such as tax and interest expense benefits, Office Depot said it expect to report a profit of 3 cents per share.
Odland, CEO since 2005, is leaving as of November 1 but will act as a consultant during the transition.Analysts, on average, are expecting $2.95 billion, according to Thomson Reuters I/B/E/S.
Office Depot said it expects to report net income of $54 million, or 18 cents per share, compared with a loss of $413 million, or $1.51 per share, a year earlier.
Excluding one-time items such as tax and interest expense benefits, Office Depot said it expect to report a profit of 3 cents per share.
Odland, CEO since 2005, is leaving as of November 1 but will act as a consultant during the transition.Analysts, on average, are expecting $2.95 billion, according to Thomson Reuters I/B/E/S.
Office Depot said it expects to report net income of $54 million, or 18 cents per share, compared with a loss of $413 million, or $1.51 per share, a year earlier.
Excluding one-time items such as tax and interest expense benefits, Office Depot said it expect to report a profit of 3 cents per share.
Odland, CEO since 2005, is leaving as of November 1 but will act as a consultant during the transition.
Neil Austrian, an Office Depot director since 1998, will act as interim chairman and CEO while Office Depot looks for a new chief. Wenn Sie an louis vuitton schweiz interessiert sind,bitte besuchen unsere Website:louis vuitton zrich
Charlotte Foreclosures for Sale: The Short Sales Hiring Virtual Sales Persons – The Key to Unlimited Sales with No Overheads Window Film US Sales Rise as Economy Falls SEO Reseller Advanced Sales Techniques Van Sales Kent Short Sales: What If I Already Tried To Modify My Mortgage Loan? Screen of the Week 10/26/2010: Price to Sales Ratio Logan experiences 96% increase in sales Web Reseller Hosting Best Ever Tips For Shopping Thanksgiving Day 2010 Sales Retailers clambering to increase sales through discounting The Greatest Sales Secret You Could Ever Learn