Office Depot, which also reported a quarterly net loss, said it
expects to close 150 stores this year.
The total store closures will generate annual run-rate savings
of at least $75 million by the end of 2016 and will start adding
to profit in 2015, the company said.
Office Depot posted a net loss attributable to common
stockholders of $109 million, or 21 cents per share, for the
first quarter ended March 29.
(Reporting by Maria Ajit Thomas in Bangalore; Editing by Savio
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