Office Depot Going Out Of Business Sale
Office Depot Going Out Of Business Sale – Office Depot is closing two stores in the Fresno area. The discount at the Fresno store is up to 30% off and will increase as the store gets closer to closing. Bethany Clough bclough@
The store at Herndon and Willow avenues in Clovis and the Fresno store on Blackstone Avenue near Bullard Avenue will close. The Madera store on Cleveland Avenue is also closing.
Office Depot Going Out Of Business Sale
All stores have started clearance sales and will close on May 15, the company said.
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When asked why the stores were closing, a spokesperson said in an email that the company “continues to optimize its retail footprint.” This is business jargon for closing underperforming stores (sometimes close to other locations) and keeping those that make enough money.
Office Depot — whose parent company also owns OfficeMax — has four other stores in Fresno and Clovis. The company expects customers to shop from them online or visit nearby stores.
In May, the company announced plans to lay off 13,100 workers by 2023 and close an unspecified number of stores and distribution facilities.
It said it will close 90 stores by 2021 after closing 55 stores earlier.
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Office Depot’s CFO says the company’s brick-and-mortar stores may account for less than 20% of the company’s sales in the near future.
The company focused on building profitable service business segments including graphic design, technical support, direct mail, packaging and shipping.
As the sale has just started, now the discount is up to 30%. The discount increases over time.
30% off most notebooks and binders, 20% off paper, briefcases and sticky notes. 15% discount on tables.
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Bethany Clough covers restaurants and retail at The Fresno Bee. Having worked as a journalist for 20 years, she now works to answer readers’ questions about business startups, closings and other business news. He graduated from Syracuse University with a degree in journalism and his last name is pronounced Clough.
Bethany Clough Planet Vegan lost her food truck in a fire. He’s back with a new restaurant in Fresno. The store at the corner of West Broad Street and North Capitol Boulevard in the Bodo District has launched an in-store sale. The store is expected to close next month.
“Office Depot continues to optimize its retail footprint and as a result, the Office Depot store at 722 West Broad St. will close on Saturday, April 24,” company spokeswoman Shera Bishop said via email.
The store opened in November 2005 after the Bodo District was designed as a 3-building, $60 million redevelopment project. The 19,000-square-foot Office Depot space will be part of a food hall called The Warehouse, which is now being developed by Hendricks Commercial Properties, owner of Bodo.
Now $2.89: Office Depot Going Out Of Business Sale …
The store opened as an experiment to see if Office Depot could thrive in a smaller downtown than larger markets like New York and Chicago. Company stores are often located in suburban areas.
Office Depot is Bodo’s second-largest tenant behind the 45,000-square-foot, nine-screen, 2,200-seat Edwards Theater, which closed during the coronavirus pandemic and will not reopen.
ODP Corp., which operates Office Depot, OfficeMax and several regional office supply companies, said sales fell 9% in 2020 from a year earlier, according to the company’s annual report released last month. Gross profit was down 13%.
Office Depot and OfficeMax had 1,244 stores with 37,000 employees last month. OfficeMax acquired Boise’s Cascade Co. in 2003, before Office Depot merged the two companies a decade later.
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Closing the Broad and Capitol office depots leaves the company’s two Treasure Valley office depots, located at Fairview and Eagle roads in Meridian and 216 Caldwell Blvd. The OfficeMax store is located at 8551 W. Franklin Road in Nampa Boise.
On Monday, Office Depot rejected an offer from Staples to buy some of Office Depot’s assets. In January, ODP rejected a takeover bid from Staples worth more than $2 billion.
Reporter John Sowell has been with the Statesman since 2013. He covers business and growth issues. He grew up in Emmett and graduated from the University of Oregon. If you enjoy articles like this, please consider supporting our work with a digital subscription to the Idaho Statesman. As we first told you last year, Office Depot will be closing its Broad St. store. It gives way to a new food hall under construction at Bodo Development.
Hendricks Commercial Properties, which owns Bodo, told us last year that the Office Depot lease would not be renewed. Office Depot did not respond to our request for comment.
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Recently, there are increasing signs of businesses going out of business and liquidation has begun. An employee said the store will close by April.
Despite the large number of offices, people no longer have room in suburban Boise for office supplies, except for a limited supply of items in a few stores that focus on food products. As noted in the long-running Dunder-Mifflin documentary called The Office, sales of paper and office supplies have increasingly moved online.
Interior renderings of The Warehouse food hall planned for Bodo in Boise. Courtesy of Hendrix Commercial Properties
Hendricks began working on a concept called the Warehouse Food Hall, a large open space surrounded by many small food vendors. It occupies most of the first floor space of the block along with the former premises of Urban Outfitters, Loft, Joe’s. A. Bank and Office Depot. STIL and Caffe D’Arte will undergo renovations and stores will be incorporated into the new design.
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Dan is a founder and publisher. He is the National Edward R. Murrow Award and Stanford University’s John S. Knight Fellow recipient. Contact him at [email protected]. His Twitter handle is @donlday
‘Good things to come’: New cocktail lounge opens across the street with coffee in Nampa The giant retailer has closed dozens of stores in recent months and more are on the way.
Office Depot executives have been restructuring the retail company since 2020, closing at least 75 locations last year.
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According to official ODP stock exchange filings, more than 250 outlets have closed since the plans were announced.
Shoppers were able to pick up items at up to 50 percent off before the doors closed for the last time.
An Office Depot store in New Albany, Indiana also closed its doors on Feb. 4, according to WDRB.
According to the Orlando Business Journal, the store will close its doors on March 25.
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It comes weeks after the brand closed a Denver, Colorado store that had been open for several years.
In November, an Office Depot location in Bozeman, Montana closed for good, and an OfficeMax location in San Francisco closed after more than two decades in business, SFgate reported.
Last year, executives revealed sales of $1.1 billion in the third quarter of 2022, down eight percent from 2021, Business Wire reported.
It has not disclosed how many stores will be closed, but more than 250 stores are slated to close between 2020 and 2021.
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Dozens of Harmon Beauty stores will close amid financial troubles at its parent company, Bed Bath and Beyond.
“Bed Bath & Beyond is a zombie retailer called a retailer,” said Yahoo Finance Live anchor Brian Sozzi.
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