OMX Officemax Incorporated

OfficeMax Reports Sluggish Holiday Sales; Lowers Guidance ITASCA, Ill., Dec. 21 /PRNewswire-FirstCall/ -- OfficeMax(R) Incorporated (NYSE:OMX) reported today that its retail sales and gross margins during the 2004 Thanksgiving-to-Christmas holiday season have been weaker than expected. Fourth-quarter 2004 comparable retail sales are now expected to be nearly flat compared to its pro-forma retail sales during the fourth quarter of 2003. As a result, the company's 2004 operating income is expected to be less than previously forecasted. According to Chris Milliken, president and chief executive officer, "Although we exceeded our expectations for the very promotional Thanksgiving Day weekend, overall holiday season sales in OfficeMax Retail have been sluggish due to lower traffic." About OfficeMax OfficeMax is a leader in both business-to-business and retail office products distribution. OfficeMax delivers an unparalleled customer experience -- in service, in product, in time savings, and in value -- through a relentless focus on its customers. The company provides office supplies and paper, print and document services, technology products and solutions, and furniture to large, medium and small businesses and consumers. OfficeMax customers are served by more than 40,000 associates through direct sales, catalogs, Internet and nearly 950 superstores. More information can be found at http://www.officemax.com/ . Forward Looking Statements This press release contains forward-looking statements about our forecasted financial performance in the fourth quarter of 2004 and for year end 2004. These statements involve inherent risks and uncertainties that could cause our actual results to differ materially from those forecasted. Our business operates in highly competitive markets. Changes in the economy, both domestically and abroad, and changes in interest rates, employment rates, and even weather can change the competitive dynamics and financial performance of our business. Intervening or unexpected events could impact our results, including the outcome of the investigation of vendor allegations we announced on December 20, 2004. The forward-looking statements in this release speak only as of the date of this release, and we undertake no duty to update them in light of new information. Media Contact Investor Relations Contact Bill Bonner Vince Hannity 630 438 8584 208 384 6390 DATASOURCE: OfficeMax Incorporated CONTACT: Media, Bill Bonner, +1-630-438-8584, or Investor Relations, Vince Hannity, +1-208-384-6390, both of OfficeMax Incorporated Web site: http://www.officemax.com/

Copyright