Office Depot Closing 150 Stores in 2014

Office Depot closing stores 2014Office Depot Inc will be closing about 400 US stores in a span of two years, according to a recent disclosure by the office supply retailer. The Office Depot closings will start with the shutdown of 150 stores this year.

As of March 29, 2014, Office Depot reportedly have 1,900 stores across the US.

The store closings of Office Depot is aimed at consolidating its operations with OfficeMax.

Shares of Office Depot increased by 10 percent following the store closings announcement.

By 2015, Office Depot expects to increase profit and projects an annual run-rate savings of at least $75 million by the end of 2016.

The complete list of Office Depot stores closing will be posted on this site once they are made official.

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