BOCA RATON, Fla. (AP) - Office Depot says it lost $1.54 billion in the fourth quarter, as hefty charges and sharply lower sales in North America and abroad weighed on the office supply chain.
Office Depot on Tuesday reported a loss of $5.64 per share, after a profit of $18.77 billion, or 7 cents per share, a year ago.
Results were hurt by impairment charges and expenses for the company's strategic business review. The company is closing stores and cutting jobs to try and lower costs.
Adjusted for charges, Office Depot posted a loss of 73 cents.
Boca Raton, Fla.-based Office Depot says sales slipped 15 percent to $3.27 billion.
Analysts surveyed by Thomson Reuters, who generally exclude one-time items, forecast a loss of 6 cents per share on sales of $3.47 billion.