By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Two major chains in this business both announced financials this week, and some online “pundits” have lumped them together, with their futures being described as precarious at best.
On the one hand, we have RadioShack, which reported quarterly and full-year losses, announced it would close up to 1,100 stores, and has had problems with branding, merchandising and online sales, among others, over the past decade.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Boca Raton, Fla. — Office Depot reported higher sales but a net loss for its fourth quarter and full-year results, ended Dec. 28, 2013, the first report after its merger with OfficeMax last November.
Reported (GAAP) results include total sales for the fourth quarter increasing 33 percent to $3.5 billion compared with the fourth quarter of 2012. Sales were $11.2 billion in the full-year 2013, an increase of 5 percent compared with the prior year.
Boca Raton, Fla. — Office Depot has tied together fitness and worker productivity, announcing the office superstore chain will start carrying wearable fitness products.
Starting immediately, Office Depot is carrying devices like the Striiv Play pedometer, Striiv Smart pedometer, Rhythm by Scosche, Sync Burn and Fit, Sync GPS watches and heart-rate straps, and Sync Elite fitness bands.
Boca Raton, Fla. — Office Depot has taken another major step toward its consolidation with OfficeMax with the creation of a new organizational structure.
The new management chart “focuses on accountability and streamlined decision making,” recently installed chairman/CEO Roland Smith said, and includes an executive committee and a leadership team.
Boca Raton, Fla. – Office Depot has selected its headquarters here to house the retailer’s newly enlarged staff.
The office superstore retailer chose the Florida location over the facility of its just acquired OfficeMax competitor located in Naperville, Ill. The company said the Boca Raton location has sufficient space to hold both the Office Depot staff and those from OfficeMax that will be moving to Florida.
Boca Raton, Fla. – Office Depot has named former Wendy’s and Arby’s CEO Roland Smith to head the newly merged office supply chain as chairman/CEO.
The appointment comes one week after Office Depot and OfficeMax formally merged, and resulted in the resignations of the chains’ respective former CEOs Neil Austrian and Ravi Saligram.
Boca Raton, Fla. – Office Depot and OfficeMax formally merged yesterday and released mixed financial results for their respective third quarters.
The new company has taken the name Office Depot, although it will continue to operate OfficeMax-branded stores and websites. With $17 billion in combined annual revenue it remains the No. 2 office-supply chain behind the $25 billion Staples, but now boasts 2,200 stores, operations in 59 countries, and long-term cost savings of some $500 million annually.
New York – The U.S. Federal Trade Commission has unconditionally cleared the merger of OfficeMax and Office Depot allowing the two chains to complete the transaction on Nov. 5.
When completed, the deal will create a combined company with revenues of about $17 billion and more than 1,700 storefronts. The merger’s financial details were not disclosed, but the two superstore chains reported that additional details surrounding how the newly formed company will function will be released when the merger is finalized next week.
Naperville, Ill. — OfficeMax said a 4.3 percent decline in second-quarter net sales, to $1.5 billion, contributed to a $10 million loss for the period, ended June 29.
The No. 3 office-supply chain also reaffirmed previously reported progress toward a planned merger with Office Depot by year’s end.
Boca Raton, Fla. — Weak laptop demand, reduced government purchasing, and $30 million in pretax charges led to a $64 million loss for Office Depot in its second fiscal quarter.
Net sales slipped 4 percent to $2.4 billion, while North American retail sales fell 5 percent to $939 million and North American comps declined 4 percent for the period, ended June 29.