During the quarter Office Depot opened 22 units and relocatedtwo, bringing the chain to 1,071 stores. For the entire year,executives expect to open 100 stores. The retailer is expanding inboth existing and new markets in North America.
Additionally, the company is remodeling stores into a new formatthat executives refer to as "M2." During the quarter there were 49remodels and 150 are planned for the year. Executives hope toremodel the entire portfolio in the next three to five years.
Office Depot's total sales came in at $3.5 billion, rising 4%.Sales per sf in the chain are currently $229. Thetechnology-product category was cited as the strongest-performing,which was led by the sales of notebook computers and accessories.Net earnings came in at $118 million, up from $100 million duringlast year's Q2.
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