Wednesday, August 10, 2016

Office Depot to Close 300 Stores Over Three Years

Office Depot plans to close 300 stores over the next three years. (Photo courtesy of Wikimedia Commons)Boca Raton, Fla.-based Office Depot Inc. announced Wednesday that the company plans to close an additional 300 stores over the next three years in an attempt to cut $250 million in costs by 2018.

Office Depot closed 42 stores in the second quarter of 2016, completing the company’s previously announced “U.S. retail store optimization plan,” which called for the shuttering of 400 stores nationwide. The company now has a total of 1,513 stores open in the United States, with plans to close an additional 25 throughout the year.. . . more

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