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Office Depot Dogged by Economic Woes

Stock quotes in this article: ODP , OMX , SPLS  

Updated from 12:05 p.m. EDT

Office Depot(ODP Quote) said Thursday that a soft economy and weak housing market has put pressure on its core small-business customers, contributing to its 8% decline in second-quarter profits and likely weighing on earnings in the near future.

Shares of the retailer were sliding $1.94, or 6.7%, to $27.01 in recent trading.

The Delray Beach, Fla.-based company reported a net income of $109.1 million, or 40 cents a share, down from $118.3 million, or 41 cents a share, a year earlier. ...

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