More on OfficeMax's (OMX) Q1: Adjusted Q1 sales fall 4.3% Y/Y reflecting "weak macroeconomic...

|About: OfficeMax Incorporated (OMX)|By:, SA News Editor

More on OfficeMax's (OMX) Q1: Adjusted Q1 sales fall 4.3% Y/Y reflecting "weak macroeconomic conditions and continued industry declines in technology sales," CEO Ravi Saligram says. Results should improve in H2 thanks to cost-cutting. Same-store sales in the retail segment fell 5.4% Y/Y. OMX sees Y/Y sales declines in Q2 and for FY13. However, the company says sales should not continue to decline at the same rate going forward and notes operating margins for the full year should be higher than they were for Q1. Shares +1.8% premarket. (PR)