News

Office Depot to downsize stores

April 12, 2011

According to South Florida’s Sun-Sentinel, Boca Raton-based Office Depot is planning a remodeling effort that will reduce the size of its stores nationwide. The traditional 24,000 square foot stores will downsize to 15,000 to 17,000 square feet.

The company will shrink its inventory to include best-selling products and brands, with an emphasis on print and copy services and technology. Plans also include hiring more full-time employees to assist customers.

"We're talking to customers more today than we ever have been," said Kevin Peters, head of the retail division, Office Depot. "We need our customers a lot more than they need us."

The first remodeled store in South Florida is located at 1110 S. Federal Highway in Delray Beach.

The remodeling plans were revealed a few days before Office Depot’s announced that it would restate its 2010 financials, due to a tax error. The restatement, turns a $33 million profit into a $46 million loss.

The company has 1,147 U.S. stores.