OfficeMax has laid out plans to improve productivity and retail sales over the next five years.
- In a drive to reduce cost, the retailer plans to close 20 stores in FY 2011 and 15 to 20 stores every year till 2016 in the US.
- OfficeMax plans to divest its wholesale business in New Zealand.
- Close call centers and customer fulfillment centers in Australia, New Zealand, and US.
- The retailer plans to consolidate its existing business and has announced that it will not be entering new markets in the short term.