If the economy is doing better, why are there more and more store closings? Office Depot announced today that they are going to be closing 400 stores. The company also reported a loss of $109 million compared to a $17 million loss last year. All this on gross income of $4.35 billion. So how many people are going to lose their jobs? How many more "box" stores are going to be closing? This is another sign that retail stores are not doing as well as all the positive press on the economy makes the economy out to be.
What do you think?
For more: http://www.foxbusiness.com/industries/2014/05/06/office-depot-to-shutter-us-stores-posts-loss/