Tuesday, office supplies retailer Office Depot Inc. (ODP: News ) reported a wider net loss in its second quarter, hurt by higher charges as well as double-digit sales fall in all regions. On an adjusted basis, the Boca Raton, Florida- based company slipped to a wider-than-expected loss, and top line, with a 22% decline, missed Street view. North American Retail Division’s comparable store sales in the quarter decreased 18%.
Second-quarter net loss was $82.864 million, compared to last year’s net loss of $2.629 million.
Now we sit back and wait for them to blame the economic downturn or sluggish Back-to-School sales, even though certain other companies that aren’t lying all the freaking time are doing just fine.