Word: depot
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Dates: during 2000-2009
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...Office Depot In December, Office Depot announced that it would close 9% of its North American stores, giving it 1,163 locations. The company will shut another 14 stores in 2009, while closing six of its 33 North American distribution facilities. Staples is now the dominant office supply brand. "Though Office Depot's situation is less dire than Pier 1 Imports, they are certainly on the ropes as well," says Chukumba. Office Depot's less capital-intensive contract business - which involves making deals with companies and governments to supply them with paper, pens and staplers - somewhat shields it from...
Chukumba suggests that Office Depot merge with competitor Office Max in order to bulk up for the battle against Staples. He believes cost-cutting has hurt service, a problem that should never be dismissed. (For example, poor service contributed to Circuit City's demise). "Every time I go into an Office Depot," says Chukumba, "I see out-of-stock merchandise. To me, that indicates you don't have enough people...
...reported a net loss of $7 million in the third quarter of 2008, compared with earnings of $117 million in the same period in 2007. Still, the company insists that its liquidity remains intact. "We ended the third quarter with $395 million in cash and cash equivalents," says Office Depot spokesman Brian Levine. "While the fourth quarter is not yet closed, we believe that we did not burn cash. It is our intent that we will maintain our liquidity throughout 2009, even under our most conservative projections of the economic environment...
...HOME DEPOT...
...spark and clang, Microsoft, which recently announced its first serious job cuts, is the behemoth of software, silently manipulating ones and zeros. Worlds apart, they've come together in the layoff business. Whether a company chops trees (Weyerhaeuser) or prices (Target), whether it sells Lipitor (Pfizer) or lumber (Home Depot), whether it services oil rigs (Baker Hughes) or cell phones (Sprint Nextel), job one is cutting payroll...