OfficeMax reported a smaller fourth quarter loss of $3.2 million after a slight recovery in its overall business and cost-cutting measures including store closures.

Sales for the quarter were $1.81 billion, a 3.7 percent decrease from the year earlier sales figure of $1.88 billion. The company had 1,010 retail stores at the end of 2009.

CEO Sam Duncan said that OfficeMax expects to post sales growth in 2010, "I believe we have proven through 2009 that OfficeMax is well positioned to grow with discipline, to differentiate our business in the marketplace and to enhance productivity while improving the shopping experience, and we are excited about our prospects for 2010," he said.

Last week Sam Duncan announced that he will retire early next year.