UPDATE: Office Depot Reports Q2 Loss of $29M

Office Depot Inc ODP released its results for the second quarter on Tuesday. ODP posted a quarterly loss at $29 million, or $0.11 per share, versus a loss of $25 million, or $0.09 per share, in the year-earlier period. Excluding one-time items, the company's loss came in at $0.06 per share. Its sales came in at $2.7 billion. Sales in the company's stores that have been open for more than one year fell 1%. Analysts were expecting a loss of $0.12 per share on sales of $2.73 billion. ODP shares gained 0.57% to $3.54 in pre-market trading.