Charges related to store closures in the United States caused OfficeMax's first quarter net income to drop from $4.9 million, or 6 cents per diluted share, compared with $11.4 million, or 12 cents per diluted share, in the first quarter of 2011.
Import cargo volume at the nation’s major retail container ports will be flat in May compared with the same month last year, but is expected to see solid year-over-year increases through this summer and the back-to-school season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Warm weather and shifting holidays in March caused retail foot traffic to dip in April. Retail foot traffic in April was 7.6% lower from March, and 2.7% lower on a year-over-year basis. The slow April is the first in the past 3 months to experience a decline in year-over-year and month-over-month retail foot traffic.