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OFFICE DEPOT REPORTS RECORD FIRST QUARTER SALES AND EARNINGS; SALES INCREASE 34 PERCENT, EARNINGS INCREASE 51 PERCENT

 DELRAY BEACH, Fla., April 13 /PRNewswire/ -- Office Depot, Inc. (NYSE: ODP), the largest office products superstore chain in North America, today reported earnings of $14,138,000 ($.23 per share) for the first quarter of 1993, compared to $9,351,000 ($.15 per share) in the first quarter of 1992.
 Sales for the first quarter of 1993 rose 34 percent to $582,115,000, compared to $433,303,000 for the first quarter of 1992. Operating profit increased 58 percent to $23,858,000 in the first quarter of 1993 from $15,123,000 in 1992. Earnings per share for the first quarter of 1993 was $.23 compared to $.15 in 1992.
 Comparable store sales in the first quarter of 1993 increased 19 percent for the 241 stores which were open for more than one year.
 As of March 27, 1993, the company operated 297 stores, including 287 in the United States and 10 in Canada.
 David I. Fuente, chairman and chief executive officer of Office Depot, Inc. commented, "The continued increase in sales and operating results along with the strength of our comparable store sales figure is extremely encouraging, especially in light of the continued consolidation and increased competition in the industry, and severe winter weather in the East and Midwest and heavy rains in California."
 The company is traded on the New York Stock Exchange under the symbol "ODP" and is included in the Standard and Poor's Mid Cap Index.
 OFFICE DEPOT, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNINGS
 (In thousands, except per share amounts)
 (UNAUDITED)
 13 Weeks 13 Weeks
 Ended Ended
 March 27, March 28,
 1993 1992
 Sales $ 582,115 $433,303
 Cost of goods sold
 and occupancy costs 448,483 333,458
 Gross profit 133,632 99,845
 Store operating and
 selling expenses 92,544 70,532
 Pre-opening expenses 1,605 1,618
 General and
 administrative expenses 15,625 12,572
 109,774 84,722
 Operating profit 23,858 15,123
 Interest expense
 (income), net 681 (212)
 Earnings before
 income taxes 23,177 15,335
 Income taxes 9,039 5,984
 Net earnings $ 14,138 $ 9,351
 Net earnings per
 common and common
 equivalent share $ 0.23 $ 0.15
 Average common and
 common equivalent
 shares 61,887 60,960
 -0- 4/13/93
 /CONTACT: Barry Goldstein, executive vice president and CFO, 407-265-4237, or Gary Schweikhart, public relations manager, 407-265-4399, both of Office Depot, Inc./
 (ODP)


CO: Office Depot, Inc. ST: Florida IN: REA SU: ERN

AW-JB -- FL005 -- 5077 04/13/93 09:05 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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