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Office Depot to close 400 stores by 2016
Boca Raton, Fla. -- Office Depot will close at least 400 U.S. stores during the next two years as part of its plan to consolidate operations after its acquisition of OfficeMax last November. The closings were not unexpected since there are many locations where the two brands have stores in close proximity to one another. The retailer also raised its full-year adjusted operating income forecast after reporting better-than-expected first quarter results amid cost cutting efforts.
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Anthropologie plans first Hampton Roads store
Virginia Beach, Va. — Anthropologie has signed a 9,431-sq.-ft. lease in The Town Center of Virginia Beach, Va., and expects to open in fourth quarter 2014. The McDevitt Co. represented Anthropologie in the transaction. Divaris Real Estate, which leases The Town Center, represented the landlord, Armada Hoffler Properties.