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OfficeMax

OfficeMax (NYSE: OMX), is an office supplies retailer founded in 1988 and headquartered in Naperville, Illinois. It is the third-largest office supplies retailer in the USA, behind Staples and Office Depot.

In 1991, Kmart acquired OfficeMax to join its other subsidiaries, Sports Authority and Builders Square. Shortly after the purchase Kmart merged its other subsidiary, Office Square, into OfficeMax. Kmart also acquired BizMart and merged it into OfficeMax in 1992. Kmart, however, sold OfficeMax in 1995.

The company was acquired by Boise Cascade in 2003, and has undergone numerous internal changes since then, including re-branding its copy and print centers from CopyMax to OfficeMax Print & Document Services. This change was primarily to prevent customers from getting the idea that it was only a copy service. In Q4 2006 the company rolled out a new branding for their printing and finishing service after finding that OfficeMax Print & Document Services was too sterile of a name. The current name for the printing department is OfficeMax ImPress Print & Document Services.

The furniture section of the retail stores is often marketed separately as FurnitureMax, though officially only a few stores have true FurnitureMax sections, characterized by much larger selections than normal OfficeMaxes. OfficeMax has 867 retail stores in the USA (including Puerto Rico) and 43 locations in Mexico (through a joint venture), in addition to an on-line retailer in the USA (OfficeMax.com). In October 2004, Boise Cascade completed its sale of its paper, building products, and timberland assets. It then renamed itself OfficeMax.

Financial Rebound
In Q1 2006, OfficeMax closed 110 underperforming domestic stores, and is opening 70 new stores with the new award winning "Advantage" store layout. The "Advantage" store design is supposed to be more customer friendly and includes improvements in all major departments inside an OfficeMax store. The company plans to remodel most or all of it's stores to the new Advantage layout.

In 2007, the average price per share of OfficeMax stock has risen to $50+.

Source: Wikipedia - News Reports

OFFICEMAX - OMX NEWS