Office Depot leading Poor Sales among Office Furniture Giants
Forecast shows that things are not of a sitting matter with Office Depot. Listed as ODP on the New York Stock Exchange, Office Depot warned that as of this quarter, stocks and shares would be disappointing primarily because of the recent poor economic conditions in the United States. Another degrading factor is that of plummeting sales of personal computers because of Microsoft Vista’s anemic adoption.
Office Depot is one of the world’s leading suppliers of office products and services. The company’s selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, printing, document reproduction, mailing and shipping. Office Depot’s customers include small office/home office, medium-sized and large businesses located in the U.S. and in 41 other countries around the globe.
Alarmingly, the situation has gotten worse and has affected the other major players in the industry of office furniture manufacture namely Staples and OfficeMax.
OfficeMax, OMX in the NYSE, is the third-largest office supplies retailer in the Unites States behind Staples and the aforementioned Office Depot. In the first quarter of 2006, OfficeMax closed 110 under performing domestic stores, and is opening 70 new stores with the new award winning “Advantage” store layout. The store design is supposed to be more customer friendly and includes improvements in all major departments inside an OfficeMax store. The company plans to remodel most or all of it’s stores to the new Advantage layout. In 2007, the average price per share of OfficeMax stock has risen to $50+. However, OMX shares a doing flat in today’s stock market.
The three office furniture giants are already doing badly. Office Depot’s shares are down 20% over the last year, and the shares of the other two companies are stagnant. Poor sales of office desks and chairs may be indicative of the weak campaigns for Microsoft’s computer software.
Posted on: Workspace
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