DELRAY BEACH, Fla.--Citing "difficult housing-related conditions" that have weakened the retail market, Office Depot today predicted "continued erosion of sales and earnings" in the fourth quarter of the year. Previous disclosures showed earnings for the third quarter down for the same reasons.
In a statement today, the office-supply and ready-to-assemble furniture retailer added that it would cut its spending by about $70 million on vendor support programs, in light of a decline in inventory purchases.
