NEW YORK (TheStreet) -- OfficeMax (OMX) expects slightly higher third-quarter adjusted operating income margin rates compared with a year earlier primarily because of favorable settlements of sales tax issues.
Excluding these settlements, adjusted operating income margin rate for the third quarter will be in line with the company's previous guidance.
However, OfficeMax said total company sales will be slightly lower than the prior year's third quarter, as will year-over-year domestic retail same-store sales. Third-quarter same-store sales will be favorable compared to the second quarter when they declined 2.1%.
The announcement was made as part of OfficeMax's presentation at the Goldman Sachs Global Retailing Conference.
-- Written by Andrea Tse in New York.
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