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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 6, 1998
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OFFICEMAX, INC.
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(Exact name of registrant as specified in charter)
Ohio 1-13380 34-1573735
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(State or other (Commission File (IRS Employer Identification No.)
jurisdiction of Number)
incorporation)
3605 Warrensville Center Road, Shaker Heights, Ohio 44122
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (216) 921-6900
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Item 5: Other Events.
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On October 6, 1998, OfficeMax, Inc. issued a press release regarding
expected sales and earnings for its third quarter ending October 24, 1998. The
press release is attached hereto as Exhibit 99 and is incorporated herein by
reference. The press release contains forward-looking statements with respect to
sales and earnings.
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits
Exhibit No. Exhibit Description
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99 Press Release of OfficeMax, Inc. dated October 6, 1998.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
OFFICEMAX, INC.
By: /s/ Ross H. Pollock
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Ross H. Pollock
Senior Vice President, General Counsel
and Secretary
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EXHIBIT INDEX
EXHIBIT NO. EXHIBIT DESCRIPTION
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99 Press Release of OfficeMax, Inc. dated October 6, 1998
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EXHIBIT 99
Headquarters: 3605 Warrensville Center Rd., Shaker Heights, OH 44122-5203
Mailing Address: P.O. Box 228070, Cleveland, OH 44122-8070
OfficeMax, Inc.
NEWS RELEASE FOR IMMEDIATE RELEASE
Contact: Mike Weisbarth
Divisional Vice President,
Investor Relations
(216) 295-6698
OFFICEMAX EXPECTS RECORD THIRD QUARTER OPERATING INCOME, BUT WILL BE BELOW
CURRENT WALL STREET CONSENSUS EARNINGS ESTIMATE
CLEVELAND, Ohio - October 6, 1998 - OfficeMax, Inc. (NYSE:OMX) said today that
it expects to achieve record sales and operating income for its third quarter
ending October 24, 1998, however, earnings will be below the current Wall Street
consensus estimate of $0.31 per share. Last year, the Company earned $0.25 per
share on sales of $992 million during the like period.
OfficeMax said that its core office supply business has been strong, gaining
momentum throughout the third quarter, but its computer and business machine
sales and their related operating profit contributions have fallen below
expectations. The Company attributes this reduced volume primarily to the
decrease in average retail selling prices of approximately 15-20% compared to
last year and a slowdown in unit sales resulting from apparent consumer
consternation over recent, unsettling economic news.
OfficeMax stated that it expects its full-year sales and earnings results to
also reach record levels in spite of slower computer and business machine sales.
The Company added that its number of customer transactions on a comparable-store
basis continued to increase during the current quarter. Additionally, OfficeMax
indicated that its store expansion plans are on target, calling for opening 120
new superstores in the United States plus additional units in Mexico and Japan.
The Company said that it will announce its third quarter sales and earnings
results during the week of November 9, 1998.
ABOUT OFFICEMAX, INC.
Today, OfficeMax operates 780 superstores in over 330 markets in 48 states and
Puerto Rico. The Company operates OfficeMax stores through joint ventures in
Mexico and Japan and, recently, announced plans to enter the Brazil market
through a third joint venture. OfficeMax also operates 17 delivery centers
throughout the United States to serve its catalog and direct marketing
businesses including OfficeMax.com on the Internet at http://www.officemax.com
which enables customers and businesses to efficiently buy a wide assortment of
merchandise using personal computers.
This release contains forward-looking statements which are subject to risks and
uncertainties. OfficeMax's Annual Report on Form 10-K, as filed with the
Securities and Exchange Commission for the year ended January 24, 1998, contains
a discussion about certain factors which could cause results to differ from
management's expectations. These risks include, without limitation, the
following: general economic conditions, increased competition, aggressive
expansion strategy, and political and economic instability in Mexico, Japan or
Brazil.
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