Beset by fierce competition and shrinking sales, Office Depot says it has a plan to remake its retail locations. The company is testing a 15,000-square-foot “Store of the Future” that’s about half the size of the retailer’s old big-box locations.
In a call with analysts Monday, Office Depot Chief Executive Roland Smith said he’s “very excited” about the concept. For shoppers, the smaller stores are “easier to navigate,” Smith said.
“Our first Store of the Future opened this past February, and the initial test results have been very positive,” Smith said. “As a result, we plan to expand the test to 20 stores by the end of the year.”
Office Depot isn’t divulging the store’s location. Office Depot tested 5,000-square-foot shops in 2011. OfficeMax, now part of Office Depot, tested a 15,000-square-foot concept in Chicago, but an Office Depot spokeswoman said that’s not the location of the experimental Store of the Future.