Dive Summary:

• Following weak second quarter revenues for the retailer; Office Depot could be on the brink of a merger with its office supply rival, OfficeMax, based on an article by Mike Troy of Retailing Today.
• Total sales for the quarter declined 4%, a net loss of almost $64 million. The drop in quarterly revenue for Office Depot is largely due to a decrease in mid-range laptop sales.
• Sales continue to be impacted by a sluggish technology category, particularly laptops, as well as ongoing budgetary pressure on our federal accounts,” says Office Depot CEO Neil Austrian.

From the article:

According to Austrian, “we remain actively engaged in integration planning related to the proposed merger with OfficeMax, which we continue to expect to close by the end of the year. Shareholders of both companies overwhelmingly supported the merger at concurrent special meetings that were held in early July, and we look forward to closing the transaction and creating an even stronger office solutions provider in an increasingly competitive environment."