REAL ESTATE

Office Depot to Close 27 Stores

BY CSA STAFF

Delray Beach, Fla., Office Depot on Monday said it is closing 16 stores in North America and 11 abroad (along with a warehouse) as part of a larger restructuring that will cost $82.2 million. The chain also is eliminating its Viking brand in the United States. The brand will continue in Europe, where it has a larger following.

The company did not provide the locations of the stores to be shuttered, saying it needs time to notify affected employees and landlords. The closures “follow a review of current performance, as well as an assessment of likely future performance,” Office Depot said in a regulatory filing. The company said it also plans to further integrate and combine European operations and has eliminated certain management and “functional positions” as part of the restructuring.

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FINANCE

New Merchandising Sets at Pathmark

BY CSA STAFF

Carteret, N.J., Pathmark will spend $12.2 million to re-merchandise all 142 of its stores by yearend. The chain is looking to reduce clutter, expand the selection of perishable items and make better use of key display areas. The supermarket chain posted a loss of $5.1 million on sales of $1 billion during the second quarter ended July 30. Overall sales decreased by 1.1% and same-store sales fell by 2% compared to the same period a year ago.

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News

New Merchandising Sets at Pathmark

BY CSA STAFF

Carteret, N.J., Pathmark will spend $12.2 million to re-merchandise all 142 of its stores by yearend. The chain is looking to reduce clutter, expand the selection of perishable items and make better use of key display areas. The supermarket chain posted a loss of $5.1 million on sales of $1 billion during the second quarter ended July 30. Overall sales decreased by 1.1% and same-store sales fell by 2% compared to the same period a year ago.

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