Office Depot Inc. agreed to buy OfficeMax Inc. for $1.17 billion in a bid to revive a retailer that has been losing sales to online rivals and Staples Inc., the largest U.S. office-supplies chain.
Office Depot will issue 2.69 new shares for each outstanding OfficeMax common share, the companies said today in a statement. Based on Office Depot's closing price yesterday, that values OfficeMax at $13.50 a share, 26 percent higher than it closed at on Feb. 15, before reports the companies were in talks to combine.
Office Depot Inc. announced today it has begun offering free, in-store pickup for online goods in an hour or less. The option is available for any products labeled "In Store Pickup Available" on OfficeDepot.com; available items vary by store.
"The holiday season is in full swing, and this is another way to enhance the shopping experience for Office Depot customers regardless of whether they choose to do so in-store or online," says Mike Kirschner, senior vice president of e-commerce at Office Depot.
Customers who select "pick-up" in the checkout process then indicate
Nola Donato has seen the future of retail, and it is in a Magic Mirror.
The Intel scientist has designed a high-tech mirror that shows how clothes look on a consumer who simply stands in front of an LCD monitor. Parametric technology simulates body type and how fabrics fit - based on weight, height and measurements.
Think of it as a digital fitting room. The concept is three to five years from fruition but could open the door for Intel in the retail market.
The convergence of smartphone technology, social-media data and futuristic technology
As young Americans move to cities, retailers that grew up in the suburbs are following them. And unlike previous efforts, they are doing it the cities way.
With little room to expand in the suburbs, retailers, including Office Depot, Wal-Mart and Target, are betting that opening small city stores will help their growth.
It is a significant shift from their approach in the past, when they tried to cram their big-box formats into cities, often prompting big fights. This time, the retailers studied city dwellers with anthropological intensity and overhauled things as varied
In what's being reported as the result of overwhelming demand and shipment delays, Google has stopped taking orders for a certain version of the Nexus 7-its first tablet offering. The decision by Google is only affecting orders for the 16-gigabyte tablet, not the 8 gig one.
The more powerful tablet is sold out at various retail stores, including GameStop, Kmart, Sam's Club, Office Depot, Staples, B&H, and Best Buy in Canada, as reported by Mashable.
Amazon is expanding beyond its consumer-facing business by launching AmazonSupply , a new site that offers 500,000 products to industrial and commercial customers. Originally known for selling books, the Seattle company is adding 14 new categories, including “test, measure and inspect,” “janitorial and sanitation,” “office,” “cutting tools and hydraulics,” “pneumatics” and “plumbing.” The categories go way beyond the stock carried by Office Depot and Staples, and will likely compete against other online- or catalog-based suppliers. AmazonSupply inventory includes hand dryers, drill bits, printer paper, cash registers, and many more-obscure products.
PayPal is reportedly preparing to launch a smartphone attachment for processing credit card transactions similar to what Square and others are already offering. PayPal is holding an event in San Francisco on Thursday, where it is speculated the company will introduce the new service. The move would follow recent steps by PayPal to build its presence in bricks-and-mortar stores via point-of-sale devices enabling shoppers to pay for purchases via their PayPal accounts by entering a mobile phone number and PIN.
Don Kingsborough wants PayPal displayed alongside Visa, MasterCard and American Express in retail stores. To get there, he will compete aggressively on price.
As the executive leading PayPal's push into physical stores, he hopes to tap long-simmering tensions over billions of dollars in fees the payment giants charge merchants each year.
Kingsborough said PayPal plans to subsidize its new service, implying merchants may pay less than they currently do for transactions done through established debit and credit payment processors. To sweeten the deal and get the world's top retailers on board, PayPal also plans