Viking Office Products parent company Office
Depot ended the third quarter in the red, with a net loss
of $7.0 million (£4.4 million). For the third quarter of
last year, the US-based cataloguer/retailer had enjoyed net
income of $117.5 million (£73.3 million). Quarterly sales
fell 7 per cent, to $3.66 billion (£2.28 billion). Sales
outside of North America rose 3 per cent, to $1.0 billion
(£620 million), although in local currency they actually
fell 2 per cent.
In terms of PR, this hasn’t been Argos’s week. In the
beginning of the week it made headlines for its association with a credit
scheme that charged an APR of up to 222.7 per cent. Now it is
apologising for double-charging 190,000 customers and
erroneously taking too much money from their accounts, as
Sky News reports.
Today’s glimmer of gloom, courtesy of the Daily Mail: “One in 10 small firms in
danger of going under because of the economic crisis”.