NAPERVILLE, Ill., Sept. 7, 2011 /PRNewswire/ -- OfficeMax®
Incorporated (NYSE: OMX) today announced that, as part of its
presentation today at the Goldman Sachs Annual Global Retailing
Conference, it plans to update its outlook for the third quarter
and second half of 2011.
Ravi Saligram, President and CEO
of OfficeMax, said, "Against the backdrop of difficult
macroeconomic conditions, we are experiencing a soft Back-to-School
season driven by a price conscious consumer and weaker technology
sales. Consequently, we are continuing to focus on providing
products that are a good value, as well as managing gross margins
and costs in the third quarter and second half of the year."
OfficeMax now anticipates that total company sales for the third
quarter of 2011 will be slightly lower than the third quarter of
2010, including the favorable impact of foreign currency
translation.
In line with the company's previous guidance, OfficeMax
anticipates that total company sales for the second half of 2011
will be slightly higher than the prior-year second half, including
the favorable impact of foreign currency translation and the
benefit of the additional fiscal week in the fourth quarter.
Additionally, OfficeMax continues to anticipate that for both
the third quarter and second half of 2011, the adjusted operating
income margin rate will be flat to slightly higher than the
respective prior-year periods.
A live audio webcast of the presentation can be accessed today
at 10:45 a.m. Eastern Time
(9:45 a.m. Central Time) via the
Internet by visiting the OfficeMax website at
investor.officemax.com. The webcast will be archived and available
online until October 7, 2011 and will
be posted on the "Presentations" page located within the
"Investors" section of the OfficeMax website.
Forward-Looking Statements
Certain statements made in this press release and other written
or oral statements made by or on behalf of the company constitute
"forward-looking statements" within the meaning of the federal
securities laws, including statements regarding the company's
future performance, as well as management's expectations, beliefs,
intentions, plans, estimates or projections relating to the future.
Management believes that these forward-looking statements are
reasonable. However, the company cannot guarantee that the
macroeconomy will perform within the assumptions underlying its
projected outlook; that its initiatives will be successfully
executed and produce the results underlying its expectations, due
to the uncertainties inherent in new initiatives, including
customer acceptance, unexpected expenses or challenges, or
slower-than-expected results from initiatives; or that its actual
results will be consistent with the forward-looking statements and
you should not place undue reliance on them. These statements
are based on current expectations and speak only as of the date
they are made. The company undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of future events, new information or otherwise.
Important factors regarding the company that may cause
results to differ from expectations are included in the company's
Annual Report on Form 10-K for the year ended December 25, 2010, under Item 1A "Risk Factors",
and in the company's other filings with the SEC.
About OfficeMax
OfficeMax Incorporated (NYSE: OMX) is a leader in both
business-to-business office products solutions and retail office
products. The OfficeMax mission is simple. We help our
customers do their best work. The company provides office
supplies and paper, in-store print and document services through
OfficeMax ImPress®, technology products and solutions, and
furniture to businesses and individual consumers. OfficeMax
customers are served by approximately 30,000 associates through
direct sales, catalogs, e-commerce and nearly 1,000 stores.
To find the nearest OfficeMax, call 1-877-OFFICEMAX.
For more information, visit www.officemax.com.
All trademarks, service marks and trade names of OfficeMax
Incorporated used herein are trademarks or registered trademarks of
OfficeMax Incorporated. Any other product or company names
mentioned herein are the trademarks of their respective owners.
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SOURCE OfficeMax Incorporated