Office Depot posts 1st-quarter loss on charges, but adjusted results top analyst estimates

CHICAGO — Office Depot Inc. surprised Wall Street on Tuesday when it reported that, excluding its cost-cutting efforts and other one-time events, its first-quarter profit was much better than expected.

Office Depot moves to 1st-quarter loss on charges, but adjusted results top analyst estimates

BOCA RATON, Fla. — Office Depot Inc. said Tuesday that it moved to a first-quarter loss because of charges for a restructuring that included facility closings, but adjusted results beat Wall Street’s estimates.