Shares of Office Depot Inc. climbed Tuesday after the company said it expects greater benefits from its merger with OfficeMax and raised its net income forecasts.
The Boca Raton company now expects adjusted operating income of $255 million to $265 million in 2014. Its previous guidance called for at least $200 million in adjusted operating income. Office Depot expects its sales to decline in 2014, but says the benefits from its combination with OfficeMax will offset the impact of that decline. Office Depot and OfficeMax combined in a $1.2 billion deal in November 2013.
