Office Depot to close 112 stores

Share this content:

Office Depot Inc. will close 112 “underperforming” retail stores in North America and has cut down the number of planned store openings for next year.

The Delray Beach, FL-based retailer said the stores would be closed over the next three months, reducing the number of North American stores to 1,163. The stores slated for closure include 45 in the central US; 40 in the Northeast and Canada; 19 in the West; and eight in the South. The company, which did not disclose the store locations or the number of employees expected to be laid off, said the moves were part of a strategic review announced in October.

The company said it will close an additional 14 stores next year and will only open 20 of the 40 originally planned stores. In addition, six of its 33 distribution facilities in North America will be closed.

The company said it would take charges related to the closures ranging from $270 million to $300 million for the remainder of this year and in 2009. 

 

Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here