Store closing plan announced at Office Depot, shares +10.3%

Office Depot (ODP) plans to close at least 400 stores in the U.S. by the end of 2016

The closures are expected to add $75M in annual run-rate synergies when completed.

Previous: Q1 earnings

ODP +10.3% premarket

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Comments (4)
  • ComputerBlue
    , contributor
    Comments (1408) | Send Message
    I wonder how much it'll soar when they close the rest their stores. Staples and OD have a bleak future. Time for a little consolidation.
    6 May 2014, 08:50 AM Reply Like
  • U2A Ventures
    , contributor
    Comments (365) | Send Message
    yeah I see OD going down the RSH path. Staples will def have to reduce stores and possibly shrink to smaller footprints elsewhere, but I think they will survive.
    6 May 2014, 10:10 AM Reply Like
  • quinnman
    , contributor
    Comments (138) | Send Message
    Company soars because it has proven that it is failing...huh?
    6 May 2014, 10:20 AM Reply Like
  • medzjohn
    , contributor
    Comments (524) | Send Message
    A great example of the slash and burn capitalism of Wall Street bankers. Dump billions of other people's money into a sector, wipe out millions of independent businesses across America, then sell out before the whole house of cards collapses on the dumb shareholders who bought into the con. Well played, Wall St.
    6 May 2014, 12:28 PM Reply Like
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