US office products retailer OfficeMax says sales have increased unexpectantly midway through the fourth quarter, pushing its shares up almost 18%.
Last month the company posted a third quarter loss and warned that the fourth quarter would be tough, however sales at stores open more than a year have improved. Sales are down 2.4%, compared with the third quarter when sales were down 7.9%. The improvement is said to be due to holiday sales of goods such as as digital cameras, wireless communication products, PC accessories and printer cartridges.
19-Dec-2001
