OfficeMax to Close 110 Stores, Open 70
OfficeMax, Inc. will close 110 stores this quarter, but will move forward with plans to open 70 new stores this year.
OfficeMax also will close five stores in Canada. Stores were targeted for closing based on performance and growth potential. The closings— the addition of new stores— give the office-supply chain 887 stores in the U.S. by yearend.
Most of the new stores will be built under OfficeMax’s “Advantage” format, geared to small-office and home-office shoppers. Stores are organized around a central hub, with boutique-style shopping areas including the OfficeMax Café and a Filling Station to refill printer ink cartridges.
The first prototype opened in October in Macedonia, OH. “The new format gives customers a reason to shop here more often and stay longer, turning our store into a resource, rather than just a warehouse,” said CEO Sam Duncan in a statement.
The store closings come as Itasca, IL-based OfficeMax strives to turn around its performance. Last month, the chain hired retail veteran Bob Thacker as senior VP-marketing and advertising. Thacker had been VP-marketing for Target Corp. from 1989 to 1998, and later served as senior VP-creative services at Sears, Roebuck & Co. Most recently, he was CEO-president of BBDO Advertising, Minneapolis.
