Office Max at Kmart
Office Max at Kmart
Office Max is an American office supplies retailer. Founded in 1988, the company is now a subsidiary of The ODP Corporation based in Boca Raton, Florida. As of December 2012, OfficeMax had 941 locations in 47 states and the U.S. Virgin Islands, as well as in Mexico. The company sells a wide variety of supplies for the home, business, and education. In 2012, the company had more than $7 billion in sales and more than 80,000 employees.
Kmart
The name Office Max at Kmart suggests the fact that this chain store offers home, apparel, and furniture. This is true to some extent, but it’s also well-known for its celebrity brands and daily deals. For this reason, it’s no surprise that the name Office Max is associated with Kmart. Nonetheless, it’s worth mentioning that it’s also known for selling clothing, shoes, and home goods.
The merger began several years ago when Kmart acquired about 22 percent of OfficeMax. By the end of 1990, the company’s share value jumped to 92 percent. The merger also involved enlargements, refurbishments, and other changes. In order to stay in business, OfficeMax’s management had to change the way they operated. As a result, the stores were remodeled. Feuer and Hurwitz kept their roles as CEO and vice chairman, but Kmart decided to invest $40 million and get a 22 percent stake.
The merger lasted until 1994, when Kmart’s former subsidiary sued the company over a $10.6 million real estate bond obligation. The lawsuit claims that OfficeMax was held responsible for $10.6 million in payments from Kmart, but it says that this was not the case. The company’s lawyers believe that the lawsuit is unfounded and the merger is not the first time that OfficeMax has merged with Kmart.
company improvement
The company’s success was due to the new owner’s strategy and its expansion into different markets. Initially, the company was targeting the suburban markets, but it eventually focused on urban areas. During the same time, the company entered Japan, where it opened two OfficeMax stores. In addition, the company partnered with Jusco Co., Ltd., which helped the company expand its business and reach new customers. After the stock sale, Feuer stepped up expansion plans and was able to secure a share of 11 percent of the business superstore market. In 1995, OfficeMax was the second largest business superstore in the U.S.; he was aiming for the number one spot.
The name Office Max at Kmart was changed to OfficeMax when the company began to undergo a reorganization process. In 1994, Kmart announced its intentions to make initial public offerings of its stock and its subsidiaries. In 1996, it completed two new financing deals, a three-year $3.7 billion credit facility and a $1 billion public offering of convertible preferred securities. This move allowed Kmart to take on a new identity and continue to expand.
Viking Office Products
A massive range of affordable office supplies is available from Viking, with options including desktop organizers, pens, stamps, blank forms, hole punchers, and staplers. The company plans to mail out over 240,000 catalogs in Switzerland this year and boasts of offering the best customer service in Europe. Customers who have used Viking products will attest to the level of customer service that the company provides. You can also expect to find a comprehensive range of business stationery, including filing cabinets and a wide variety of binders.
In the 1960s, Viking started as a small office supply retailer in Los Angeles, California. It was then supplemented by a catalog. In just five years, Viking had mailed its first catalog and had a customer list of 5,000 French businesses. In 1974, Viking acquired its first computer and expanded into other major cities. Viking Office Products for office max continued to grow in the 1990s and into the early 2000s.
In 1984, Viking announced record annual sales of $226.3 million, a rise of 43 percent over the previous year. This success can be attributed to Viking’s sophisticated database management. A database that contained information on all of their customers’ purchasing behavior since 1984 was analyzed with the help of specialized software. The company also tracked how much it costs to attract new customers, what items they usually purchased, and how much business they got from those customers. The company implemented elaborate monitoring procedures to find out how its marketing efforts were affecting its sales.
In addition to its North American operation, Office Depot has international operations in 23 countries. In Canada, Office Depot operates more than 30 retail locations, while the company has joint ventures in France and Japan. The company also owns Viking Office Products, Inc., which is based in Torrance, California. The company had a combined sales network of $1.3 billion in 1997 and will use this network as the backbone for its overseas operations.
Office Depot
In the United States, OfficeMax is a well-known retailer of office supplies. Founded in 1988, it is a subsidiary of the ODP Corporation with headquarters in Boca Raton, Florida. As of December 2012, the company had 941 locations across 47 states, the U.S. Virgin Islands, and Mexico. Both OfficeMax and Office Depot are based in Boca Raton, Florida. In 2012, OfficeMax surpassed Office Depot in-store number, with 941 locations in 47 states and Puerto Rico. In addition, Office Depot stores are available in Mexico and Canada.
While Staples has been pursuing the acquisition of Office Depot for years, it has been unable to acquire the latter’s retail stores. However, the board of ODP Corp. approved a plan to separate the company into two divisions, each focused on its strengths and unlocking shareholder value. While Office Depot and OfficeMax will keep their retail consumer divisions, ODP Corp. will keep their e-commerce site and small-business products, division.
Additional information
While the merger would make OfficeMax a $1.2 billion company, it is still unclear whether the two retailers will work together to develop a new product or improve their retail stores. OfficeMax and Office Depot are both struggling to compete against big box discounters like Walmart and Amazon. Both companies offer the same products, but the lower prices of big-box discounters have made it difficult for both retailers to stay competitive. As a result, it has been unable to keep up with its competition, with prices falling in recent years.
The merger of two office supply companies, OfficeMax and TheOfficeDepot, created a global provider of office supplies and services. The company aims to create a one-stop shop for office supplies. It offers its customers a complete range of office supplies and services, from stationery to printers. Whether they’re looking for a single location or a one-stop shop for all their office needs, Office Depot will meet your needs.
Office Depot has many locations throughout the United States and Canada, including a catalog. Besides office supplies, they also offer many services, including computer repair and data storage. Additionally, OfficeMax offers services for home office gadgets and promotional items. The latter even offers services like PC tune-ups and security solutions. They have a variety of coupons and promotions available to their customers. If you’re wondering which is better, check out the comparison chart and decide for yourself.
Office World
The company began a period of tremendous expansion in 1996 when the company announced plans to expand its business into Mexico City and Southern California. The company opened its first international store in Mexico City and opened several more stores there, which proved to be a tremendous success. Office Max CEO Dan Feuer attributed the success of these expansion efforts to the company’s young age and the booming market of the region. In 1998, the company was already expanding at a rapid pace and had modest expectations.
The founders financed the inventory with a line of credit and convinced suppliers to lend them money. They acted as if they were starting a huge chain and hoped the suppliers would cooperate with them. However, when the chain failed to make a profit, the founders turned to a line of credit from a Cleveland bank. Feuer and Hurwitz continued to build a business that would ultimately pay off for their shareholders, but the company faced a steep learning curve.
End
By the summer of 1990, OfficeMax was already operating 30 stores and the investors were ready to move the business to a better headquarters building. The new facility would have separate restrooms for men and women. The company hoped to add another 20 stores in the next year. The future of OfficeMax seemed bleak, but the company managed to overcome its obstacles. Even with the economic crisis and intense competition, OfficeMax was able to achieve its ambitious growth goals.
The companies will hold a joint webcast on the merger on May 17. It will begin at 11:00 a.m. eastern and 10:00 a.m. central time. The speakers will be Ravi Saligram, CEO of OfficeMax and Bruce Besanko, EVP and Chief Financial Officer of OfficeMax. They will be joined by Neil Austrian, Chairman and CEO of Office Depot. Among other executives, Mike Newman will be EVP and Chief Financial Officer of Office Depot.
The success of Office Max was due in large part to the way it marketed its business. OfficeMax claimed to have 300 retail locations and was profitable within six months. Eventually, it sold 22 percent of its stock to Kmart in return for $40 million investment and a 22 percent stake. The company is now worth around $20 billion and is thriving in the office supplies market. And its partnership with Google is a testament to this. For Further Information Please Visit This Site.
