FINANCE

Report: Office Depot Looks to Narrow Work Force

BY CSA STAFF

Delray Beach, Fla. Office Depot said it is trying to reduce its 2,000-employee work force at its Delray Beach headquarters through a voluntary separation program, according to the South Florida Business Journal.

Brian Levine, a spokesman for Office Depot, said severance is being offered to salaried and hourly employees at the company’s headquarters. He said Office Depot does not have a specific number of jobs targeted for elimination.

“With the economic environment that Office Depot and many other companies are facing, we believe it is imperative that we take prudent steps to cut expenses while we continue to manage the business for both growth and profitability,” Levine said.

The company did not release details of the severance package.

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Report: Gap Inc. focus on retooling stores

BY CSA STAFF

NEW YORK Gap Inc. is refocusing its efforts on using its existing real estate to create smaller stores, rather than open new stores, ceo Glenn Murphy siad at the PiperJaffray conference, according to The Associated Press.

According to the AP, Murphy said that Gap has too many stores that are too large for anything other than flaghsips or signature locations. The stores are 12,500 square feet each. Murphy said stores should ideally be between 6,000 square feet and 10,000 square feet.

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Winn-Dixie: Publix, Albertson’s deal won’t affect performance

BY CSA STAFF

JACKSONVILLE, Fla. Commenting on the recent news that Albertson’s LLC will sell its 49 Florida stores to Publix Super Markets, Winn-Dixie chairman, president and ceo Peter Lynch, said that the transaction should not have a major impact on his company’s performance.

“Based on our analysis, only 10 of the 49 stores are within a two-mile operating radius of a Winn-Dixie location that does not currently compete with an existing Publix,” said Lynch. As a result, we do not believe this transaction will have a material impact on our long-term strategy or performance. Our remodeled stores continue to generate positive results. As we move forward, we will monitor business conditions and fine-tune product assortment, pricing and merchandizing efforts in each store to meet the needs of the communities we serve.”

Albertson’s said it has accepted an offer from Publix Super Markets to purchase 49 of the company’s stores in Florida. The company intends to operate its remaining Florida division stores with the ongoing support of its distribution center in Plant City and division office in Lake Mary, Florida. The acquisition is expected to be complete in September.

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