Office Depot Inc
The nation's No. 2 office supplies retailer has been hit hard by the U.S. recession, as small businesses -- its core customers -- have cut back sharply on spending in a recession.
Office Depot reported a first-quarter net loss of $55 million, or 20 cents a share, compared with year-earlier net income of $69 million, or 25 cents a share.
Adjusted for charges, the company reported earnings of 10 cents a share.
The Boca Raton, Florida-based company, whose products range from computer hardware to school supplies, has announced plans to close stores and lay off workers to trim costs.
Total sales fell 19 percent to $3.2 billion.
(Reporting by Dhanya Skariachan in Bangalore; Editing by Derek Caney)