Office Depot to close 400 US stores, posts loss

http://www.cnbc.com/id/101633126

Office Depot said it would close at least 400 stores in the United States as shoppers shift their office supply purchases to e-retailers, mass market chains, and drugstores.
Office Depot, which also reported a quarterly net loss, said it expects to close 150 stores this year.
The total store closures will generate annual run-rate savings of at least $75 million by the end of 2016 and will start adding to profit in 2015, the company said.

The recovery is strong....