Office
Depot to Accelerate Store Closings - 400 by end of 2016
Office Depot said Tuesday that it is accelerating its store-closure
plan and expects to close about 175 stores this year and at least 60 in
2016, for a total of at least 400 closures by the end of 2016.
Quarterly
same-store sales — from stores open at least a year — increased 1
percent as traffic moved from closed stores to remaining ones, the
company said. Three stores were closed in Broward, none in Palm Beach County.
Chief
Executive Roland Smith said same-store sales were positive "for the
first time in many years," citing "success in consolidation of our U.S.
retail store portfolio and increased operational effectiveness."
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