Shop Talk

Retailers, consumers and prices

Check Out Line: Office Supply Blues

July 8, 2008

pencils.jpgCheck out more woe for the office supply sector, specifically Office Depot

The retailer warned that same-store sales in North America fell nearly 10 percent during the second quarter and said operating margins would fall more than expected as business conditions worsened. The news sparked a sharp sell-off in the stock as well as those of rivals Staples and OfficeMax.

Recent months have been tough for Office Depot, which earlier this year faced a proxy challenge from a shareholder group seeking to oust Chief Executive Steve Odland from the board. With the weaker second quarter results in view, one analyst raised the possibility that management changes could be in the offing.

Also in the basket:

Pepsi Bottling profit rises

U.S. pending home sales fall

Obama proposes easing consumer bankruptcy laws

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