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Foot Locker increases capital expenditures for 2013
New York -- Foot Locker announced that its board of directors has approved a $220 million capital expenditure program for 2013. The amount marks a significant increase over the approximately $163 million spent on in 2012.
The company said it plans to invest in such growth initiatives as including new and innovative store formats; continued expansion in Europe; technology to improve its customers' experience; and robust capabilities for its digital segment. -
It's Official: OfficeMax and Office Depot to merge
New York -- OfficeMax Inc. and Office Depot have formally announced an agreement under which the two companies would combine in an all-stock merger that would transform the office supply sector of retail. The merger, which creates a single company with nearly $18 billion in revenue, was unanimously approved by the board of directors of both chains.