Office Depot is downsizing some of its stores around the nation as it struggles with increased competition from many sources. The Buffalo store opening today on Delaware Avenue at Hertel Avenue is among the first of the smaller venues.
The company was a hot stock until mid- 2007, when things started to go south. The bottom dropped out in 2008, with share prices falling to under $4, far from its highs of above $40. Since then, the share price has struggled to recover. Competition from other retailers and the Internet has put the squeeze on this speciality store, and so many others.
- Grove Potter