OfficeMax (OMX) is down about 75% from its all-time high achieved about six years ago. The company traded at early to mid $50s in March 2007 before plunging to about $3 within two years. Much of this decline coincided with the 2008/2009 financial crises, which means it would be unwise to fully attribute the decline to business risk.
Many people have alluded to the fact that the rapid advances in technology and the growing use of digital information is a major cause to OfficeMax's struggles. I cannot rule that out in absolute sense, but I think the impact has been overstretched.
I agree that gone are the days when printed materials dominated office stores, with much storage...
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