OFFICE DEPOT to close 112 retail stores in North America

New store openings for 2009 now have been reduced to approximately 20, down from the previous estimate of 40 stores.

 Office Depot plans to close 112
underperforming retail stores in North America over the next three
months as part of a strategic review. Outlets to be closed are
located in various geographic regions, including 45 in the Central
US, 40 in the Northeast and Canada, 19 in the West and eight in the
South. Additionally, 14 stores will be closed throughout 2009 as
their leases expire or other lease arrangements are finalised. This
will facilitate a reduction in total spend in 2009 to less than
USD200 million, significantly lower than projected depreciation and
amortisation of USD275 million. Office Depot also plans to close six
of its 33 distribution facilities in North America. The company has
said that this is consistent with its long term plan to reduce the
total number of facilities and combine its separate supply chain
systems.

No information about Office Depot's European plans.