Office Depot narrows loss in Q4

Boca Raton, Fla. -- Office Depot said Tuesday that it narrowed its loss in the quarter ended Dec. 25 to $58 million, compared with a loss of $77 million in the year-ago period.

Total sales dropped 3% to $3 billion. Sales in the North American Retail division dipped 2% to $1.2 billion; same-store sales decreased 1%. During the quarter, Office Depot closed six stores, opened three and relocated four stores in North America.

For the full year 2010, the retailer reported a sales drop of 4% to $11.6 billion. It lost $2.2 million for the year, compared with a loss of $627 million in 2009.