OfficeMax (OMX) reported third-quarter losses that met analysts' expectations, amid lower-than-expected sales, extra costs and reduced income from discontinued vendor support programs.
The office supplies chain lost $10.3 million, or 10 cents a share, compared with earnings of $15.8 million, or 14 cents a share, in last year's third quarter. Twelve analysts polled by
First Call/Thomson Financial
expected 10 cents a share.
Sales for the quarter grew 7.2% to $1.31 billion, up from $1.22 billion last year. Same-store sales fell 1.7 % for the quarter, which the company said was partly affected by a difficult retail environment.