Thursday, Office Depot Inc. (ODP) reported a third-quarter net loss of $413 million or $1.51 per share, compared to a loss of $7 million or $0.02 per share in the same quarter last year.
On an adjusted basis, net loss for the quarter was $21 million or $0.08 per share, compared to a loss of $2 million or $0.01 per share in the year ago quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to report a loss of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.
Total sales for the quarter decreased 17% to $3.02 billion from $3.66 billion in the comparable quarter last year. Analysts expected the company to report revenue of $3.07 billion for the quarter.
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