Office Depot
Another major retailer, Office Depot, went through some hard times in 2017 with sales falling 7 percent and costing them $10.2 billion. The company’s CEO Gerry Smith announced that they would be making a shift from mostly retail sales to online sales, which will include services. They’re pushing up the company’s top-line. In May of 2019, the company closed down 50 retail locations. They closed down both Office Depot and OfficeMax, which is another store owned by the company.
Source: publimedios.info
One of their new business to business services is the “BizBox” subscription program. Investing in this service also included acquiring the IT firm CompuCom. The services now include 14 percent of Office Depot’s sales.
The next supplement line is facing adversity in this competitive market. Can you guess which store?