Office Depot seems to be going down with a fight - Closing all of their stores in Japan to cut costs.
TOKYO (MarketWatch) -- Office Depot Inc. plans to close all of its stores in Japan by the end of this year because of intense price competition, according a Nikkei newspaper report.
Office Depot's subsidiary in Japan has so far closed eight stores this year, with the other 20 expected to close by the end of the year, the Nikkei reported Sunday.
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.
It also intends to sell private-brand goods to major supermarket chains, the report said.
Tuesday, May 5, 2009
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