OfficeMax profit tops estimates
OfficeMax on Thursday that its third-quarter profit more than tripled to $20 million from $5.66 million a year earlier. Sales fell 1% to $1.81 billion. The company forecast lower fourth-quarter sales after quarter-to-date U.S. demand declined from the year earlier."Looking forward through the balance of 2010, we expect the macroeconomic environment to remain muted," chief executive Sam Duncan said.OfficeMax ended third quarter 2010 with a total of 998 retail stores, consisting of 920 locations in the United States and 78 stores in Mexico. During third quarter 2010, OfficeMax closed three U.S. stores.