OfficeMax
Office World News, Sep 1998
CLEVELAND, OH-OfficeMax announced record high fiscal 1998 second quarter and first half sales for the periods ended July 25, 1998. Sales for this 13-week period increased 13 percent to $874 million from $776 million for the comparable period a year ago. Same-store sales for the quarter, excluding computers, rose 6 percent over last year.
Including computers, comparable store sales decreased 1 percent. Computer sales were adversely affected as the company contracted its breadth of selection versus a year ago and elected to further reduce computer promotions. In addition, average selling prices of computers decreased approximately 13 percent. These factors resulted in a decline in same-store computer sales of 46 percent while software and peripherals reflected strong double-digit gains. In addition to computers, OfficeMax also experienced a decrease in the average selling prices of fax mac:hines, printers and copiers of approximately 13 percent.
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