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OFFICE DEPOT REPORTS RECORD THIRD QUARTER SALES AND EARNINGS; SALES INCREASE 52 PERCENT, EARNINGS INCREASE 76 PERCENT

 DELRAY BEACH, Fla., Oct. 13 /PRNewswire/ -- Office Depot, Inc. (NYSE: ODP), the largest office products superstore chain in North America, today reported earnings of $17,206,000 ($.18 per share) for the third quarter of 1993, a 76 percent increase over earnings of $9,758,000 ($.11 per share) in the third quarter of 1992.
 In June 1993, the company completed a three-for-two split of the company's common stock. All historical share and per share information has been restated to reflect the stock split.
 Office Depot's sales for the third quarter of 1993 rose 52 percent to $659,925,000, compared to $434,793,000 for the third quarter of 1992. Operating profit increased 90 percent to $30,837,000 in the third quarter of 1993 from $16,193,000 in 1992. Earnings per share for the third quarter of 1993 was $.18, compared to $.11 in 1992.
 Comparable store sales in the third quarter of 1993 increased 31 percent for the 270 stores which were open for more than one year. This compares with a comparable store sales increase of 14 percent for the third quarter of 1992.
 For the nine months ended Sept. 25, 1993, the company reported sales of $1,769,911,000, a 41 percent increase over the $1,254,928,000 in sales for the comparable period last year. Operating profit for the first nine months of 1993 was $73,400,000, a 74 percent increase over the $42,072,000 reported for the comparable period last year. Net earnings for the first nine months rose 65 percent to $42,205,000 in 1993, from $25,560,000 in 1992. Earnings per share for the first nine months of 1993 was $.45, compared to $.28 for the same period in 1992.
 As of Sept. 25, 1993, the company operated 323 stores, including 310 in the United States and 13 in Canada, and 15 delivery and contract stationer warehouses.
 David I. Fuente, chairman and chief executive officer of Office Depot, Inc. commented, "This quarter has been a very gratifying quarter as we review the accomplishments of the company. We continue to experience significant comparable store sales increases with very strong operating results. Our acquisition of Eastman Office Products Corporation, a major California-based contract stationer, was completed on Sept. 13, 1993. This acquisition, coupled with the acquisition of the contract stationer operations of Texas-based Wilson Business Products earlier this year, and the company's existing delivery business puts Office Depot in the position of being a significant factor in the contract stationer portion of the office supply industry. In connection with the Eastman acquisition, the company established a new long-term revolving credit facility with five major banks which provides the company with a $200 million credit line at 3/4 percent over LIBOR. We are excited about our future growth prospects as we continue to open contract stationer operations."
 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 39 Weeks 39 Weeks
 Ended Ended Ended Ended
 Sept. 25 Sept. 26 Sept. 25 Sept. 26
 1993 1992 1993 1992
 Sales $ 659,925 $ 434,793 $ 1,769,911 $1,254,928
 Cost of goods
 sold and
 occupancy costs 508,447 334,490 1,362,130 966,022
 Gross profit 151,478 100,303 407,781 288,906
 Store and warehouse
 operating and
 selling expenses 100,119 68,586 278,091 202,741
 Pre-opening expenses 1,685 1,936 5,245 5,164
 General and
 administrative
 expenses 18,416 13,588 50,487 38,929
 Amortization of
 goodwill 421 --- 558 ---
 120,641 84,110 334,381 246,834
 Operating profit 30,837 16,193 73,400 42,072
 Interest expense
 (income), net 1,398 60 2,979 (58)
 Earnings before
 income taxes 29,439 16,133 70,421 42,130
 Income taxes 12,233 6,375 28,216 16,570
 Net earnings $ 17,206 $ 9,758 $ 42,205 $ 25,560
 Net earnings per
 common and common
 equivalent share $ 0.18 $ 0.11 $ 0.45 $ 0.28
 Average common
 and common
 equivalent shares 94,718 91,935 93,658 91,472
 -0- 10/13/93
 /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

JB-RK -- FL004 -- 1502 10/13/93 08:56 EDT
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Date:Oct 13, 1993
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