According to MarketWatch, Office Depot has closed 8 stores in Japan already, with the other 20 reported to be closing by the end of the year.
Office Depot was cited as saying the closures will cost about $13 million.Office Depot Japan Ltd. opened its first store in 1997. The subsidiary will reportedly continue its mail-order and online sales and soon sell other private-brand goods now marketed overseas.
I really can’t figure out Office Depot. They seem to be having trouble at home and abroad. They face stiff competition from independent online retailers. They’re accused of impropriety across the board, and their stocks are sinking. Yet they tell everyone that they’re doing great, and that profits are up and any minute now they’re gonna surprise everyone. Well, I’m not going to hold my breath.