Office Depot shares fell approximately 17% in trading on Tuesday. Office Depot trades on the “New York Stock Exchange” under the Stock Symbol “ODP”. For More information regarding “ODP” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Office Depot (NYSE:OPD) shares fell approximately 17% in trading on Tuesday. The company has been going through a reformation as it deals with weak sales in the U.S., brought on by the recession.
Office Depot, a supplier of office products earned nearly $20 million, or 7 cents a share, in the three-month period ending March 27. Compared to the same period that took place a year prior, the company lost $54.7 million, or 20 cents a share. The North American sales fell 6 percent to $1.3 billion, mostly on the closing of 120 stores last year due to the restructuring. International sales rose 2 percent to $894 million though fell 5 percent in local currency.
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