News Breaks |
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| January 24, 2013 |
| 06:55 EDT |  | OMX | OfficeMax downgraded to Hold from Buy at KeyBanc
KeyBanc downgraded OfficeMax citing lack of balance sheet catalysts and Boise Cascade's amended S-1 which puts a valuation on the company's stake. |
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| May 7, 2013 |
| 10:58 EDT |  | OMX | OfficeMax sees sales declines at less negative rate than in Q1 for rest of year
Says sales weakness that experienced in late 2012 deepened more than expected in Q1. Sees cost synergy opportunity of $400M-$600M by the third year following close of Office Depot (ODP) transaction. Says will continue to make investments in e-commerce platform. Sees sales declines continuing through the year, but at less negative rate than in Q1. Says expects to close a total of 15-20 stores this year, along with selective relocations and downsizes. Says will introduce smaller format store in 2013 in Milwaukee and Portland as pilot program, says new format stores geared specifically towards small business customers. Comments made on the Q1 earnings conference call. |
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| 07:11 EDT |  | OMX | OfficeMax sees FY13 revenue to be lower than FY12, consensus $6.88B
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| 07:10 EDT | | OMX | OfficeMax sees Q2 revenue to be lower than a year ago, consensus $1.59B
Sees April sales trends continue to be negative. Sees Q2 total company sales to be lower than a year ago, including favorable impact of foreign currency translation. The company also expects Q2 operating income margin to remain positive, but signifancatly lower than the adjusted margin for hte prior year period. |
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| 07:09 EDT | | OMX | OfficeMax reports Q1 adjusted EPS 11c, consensus 23c
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| 07:06 EDT | | OMX | OfficeMax announces special dividend of $1.50 per common share
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